Robos seem to be starting to suspect algorithms alone will not cut it in the advice world, writes Lester Petch, which is bad news for advisers - or at least for those unprepared to adapt to this hybrid world
Robo-platforms have begun hiring humans to supplement their online offerings and proffer advice. Moneyfarm, Nutmeg, Scalable Capital and Wealthify have all announced they are either looking for human advisers to service their clients or they have already hired them. This is in addition to the likes of Evester and Wealthsimple, which use the hybrid digital and human approach already. Whether this is a business rescue strategy or has been their intention all along we can only surmise but one things for certain - these operations are coming directly for financial advisers and their clients....
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