Advisers stuck in the ‘old world’ of financial advice

Financial advice is stuck in the “old world” and needs to adjust to how consumers want to receive and interact with advice.

Speaking at the Association of Financial Advisers (AFA) conference, Jacqui Henderson, founder and chief executive of Advice Intelligence, said: “There’s a massive gap between how consumers interact and how they receive financial advice. Consumers interact via their smartphones whereas they receive advice via paper documents.

“We are really stuck in the old world of delivering financial advice via paper and PDFs whereas technology is evolving into something that’s interactive and can be delivered via a mobile device.

“Over the next decade, there are way like augmented reality that will enrich the consumer experience. So, we need to evolve technology from being in this old world to a new world of digital and that’s where the gap is because consumers are interacting that way so we need to step up and deliver advice in the same way.”

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Source: Advisers stuck in the ‘old world’ of financial advice | Money Management