The next generation of wealth management advisors is optimistic about the prospects of digital and AI to improve financial advice. In March 2018, we surveyed 351 advisors across the U.S. on the state of digital in wealth management advice. The majority of respondents were aged 25 to 45, and most self-identified as early adopters of technology.
What attracted our attention was the tech-savvy professionals’ nuanced view of digital thinking and technology when it comes to advisory services. They have a natural feel for the business advantages that arise when machine intelligence augments and extends the human touch.
Their responses provide a window into the areas of wealth management most likely to benefit from digital, from those most likely to carry it out.
These early adopters envision the advice-delivery ecosystem consisting of three elements: customer experience, automation and data to deepen context. Firmly at the center are human advisors doing what people do best, such as interpreting context and behaviors, and applying intuition and empathy.
Early adopters see digital’s promise in wealth management as not just automation but also context, personalization and collaboration. To learn more about respondents’ views on the future of wealth management, see our infographic that summarizes our study.
