HitchBOT, the digital hitchhiking robot, met a sad end last week. While he was more experiment than trend, he serves as a representation of people's hesitance to trust robots to have our best interests in mind, according to InvestmentNews.com.
The writer for this advice is Bruce Mine who wrote that this ambivalence toward robots extends to the wealth management community, where advisers and firms question whether robo-advisers help their businesses or cannibalize and commoditize their franchises. I'd like to challenge this assertion and submit that robo-advisers can be an invaluable addition to the arsenal we equip our advisers with to deliver exceptional service and value to clients.
Research shows that more consumers are using online sources, blogs and social media to take the first steps in finding high-consideration, high-involvement products and services, from real estate to financial advice. This is a fundamental shift in the way they approach and initiate the buying cycle; they are learning to trust technology and (some parts of) the web to help them make educated decisions.