Since my post in the Investment News techconnect blog, “Financial technology trends advisers can’t afford to ignore”, I have been in a number of conversations about how a new crop of web-based investment management/financial planning services are affecting the industry.
Opinions have run the gamut from, “Advisers are toast, everything is moving online,” to “No way, X type of clients will always want personalized service.” As you can well imagine, the tenor of those comments were colored greatly by where the commenters are in the industry or what their business models look like.
Although investor sentiment varies somewhat during different economic cycles, somewhere around 25% to 30% of investors are do-it-yourselfers, and another 20% to 25% want regular help from advisers. The largest chunk is somewhere in between. They make some of their own decisions, but sometimes they want help.
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