Industry urged to embrace robo-advice to attract millennials

Majority not interested in automated advice

Carmen Reichman
clock • 2 min read

The majority of advisers still shun robo-advice as an opportunity for business development, according to new research.

Adviser platform Nucleus asked 200 of its users about ways to close the so-called advice gap and found while 88% of advisers believed there was an advice gap, a mere 28% saw robo-advice as the solution, at least in their own business. A mere 15% said they were actively looking at alternative models to face-to-face advice to help address the advice gap and any potential threat from robo-advice. The majority of Nucleus users (53%) appeared neutral about the threat or opportunity created by robo-advice. Nucleus business development director Barry Neilson said firms should do more to e...

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