Financial advisors have faced massive disruption for more than a decade as automated tools, such as robo-advisors and passive investing, have captured the attention of a growing number of investors. Financial markets have thrived amid this explosion in robo-investing. However, smart advisors are counterpunching with technology of their own, turning the tables by making data analytics work for them to improve the client experience.
While disruptive robo-advisors and startups have a treasure trove of technology at their disposal, they haven’t mastered the market. That’s because the technology is powerful and useful, it’s much more effective when combined with the human touch. An informed advisor can use it to drive efficiency, improve decision making and help foster a deeper connection between themselves and their clients.
Automated technology has put pressure on advisors to remain relevant. Yet, an advisor with a