TECHNOLOGY
“ Human advisers will not become obsolete – far from it . But the way they deliver that advice and interact with clients will change ”
JASON HOLLANDS MANAGING DIRECTOR , BESTINVEST and insurance . The human touch , driven by demand from hesitant retail customers , is at the heart of that .
“ While many people are happy to use online services to explore and educate themselves , a majority are uncomfortable with the concept of computer-driven financial advice ,” claims Bestinvest ’ s Jason Hollands . “ On an emotional level , there is a big difference between booking a flight or ordering a box of wine online , and deciding what to do with your retirement fund . People want the reassurance of speaking to a knowledgeable human as part of the process .
“ Pure ‘ robo advice ’ is quite limited in scope ,” he adds , “ essentially providing a decision tree to select an investment strategy that meets a particular risk profile and goal , such as income or growth . This
122 January 2023