Robots, regulation and redundancies.
Digital advice is the topic du jour for licensees facing rising costs, shrinking margins and a war for talent, but it's not a plug and play solution. Despite the appeal of fintech, they'll still face heightened scrutiny, compliance hurdles and distribution challenges.
If you're just dipping your toe into the water, this report from Planet of Finance is an excellent place to start. It's an engaging overview of robo-advice with a focus on the international experience.
To paraphrase Luis Rivera, the CEO of ETFMatic "Advising is necessary, advisers are not."