Rise of digital financial advice platforms concern for wealth firms

Financial advisory firms should be concerned about the rise of digital financial advice platforms as they gain popularity, says data and analytics company GlobalData.

According to GlobalData’s 2018 UK Independent Financial Adviser (IFA) survey, only 6.3 per cent of independent financial advisers were concerned about client-facing robo-advice.

Given that robo-advice could no longer be avoided by the largest wealth management firms, independent financial advisers should not be oblivious towards the innovation.

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Source: Rise of digital financial advice platforms concern for wealth firms | Money Management