Robo, hybrid, digital advice - what's it all about?

More than just buzzwords

clock • 4 min read

In recent years the terms robo advice, hybrid advice and digital advice have been bandied about, pretty much interchangeably. But, asks Paul Hogg, are they really all the same?

Before unpacking what the terms mean, it is helpful to understand what outcome is being sought from bringing technology into advice in this way. Importantly, we are talking specifically about regulated advice here, by which I mean a personal recommendation made to the customer, rather than guidance, or helping people choose between different investment solutions. I see two main objectives. The primary goal is to find more cost-effective ways of supporting advisers in delivering advice to customers. Achieving this leaves advisers with more time to focus on activities that add real value, ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

Model Office launches AI compliance audit software for advice firms

Model Office launches AI compliance audit software for advice firms

Streamline client file reviews and compliance document audits

Isabel Baxter
clock 17 April 2024 • 2 min read
Twenty7tec unveils web-based CRM solution for advisers

Twenty7tec unveils web-based CRM solution for advisers

‘Advisers are tired of overpaying for technology that integrates poorly’

Isabel Baxter
clock 17 April 2024 • 1 min read
Growing technology use increasing adviser and client pressure

Growing technology use increasing adviser and client pressure

Nearly all advisers say investment clients have become more demanding

Isabel Baxter
clock 16 April 2024 • 1 min read