Worries about robo-advisers are unfounded. Here's why.

Any time a new technology comes out, people will flock to it. This is what's happening with robo-advisers. They are new, and there is a lot of press covering and touting their value. That makes great headlines, but in the real world of working with advisers, my clients are not worried. Why? Robo-advisers appeal to the do-it-yourselfer. Some people believe they can do it themselves and they are right. You will never get the true DIYer as a client anyway. So what is the concern? Are doctors concerned about WebMD? Sure they are, for the same reasons you are concerned about robo-advisers. You are afraid they are going to give bad and incomplete advice. You are concerned that will hurt your clients or members of your community. Are doctors hurting for new clients? No. If you're hurting for new clients, it's not because of robos. It's because of what you offer. I could go to WedMD right now and type in how I am feeling. It might tell me I am dying when there is nothing wrong with me at all. NOT EVEN CLOSE Robo-platforms promise they can do what a human does; they cannot. Not even close. If I am able to type in specific and diagnosed injury or illness into WebMD, I can get an overview of treatment opportunities. I cannot, however, get a prescription, surgery or a splint if I need it. Why can't my computer just give me a prescription, do complex surgery or splint my broken arm? Because that is not what a computer is designed to do. Likewise, robo-advisers are not designed to help with complex financial needs; that is what you are for. If you look at the services you offer to clients and see they are the same as a robo-adviser's offerings, well, then you need to change. You need to up your game. You are not losing business to robo-advisers because they are so great; you are losing business because you do not offer anything of great value. We will always need surgeons, MRIs and specialists in medicine. We will always need great risk managers, retirement income specialists, tax specialists and financial planners. The human element will not be replaced. Younger, less complicated accounts might head to the robo-world. They are more interested in working with a screen than a human. That is because they are young. As their financial life gets more complicated, they will undoubtedly need you. Senior citizens use WebMD to do their research, but they still go to their doctor. You are their financial doctor. For those of you who are not a specialist or who offer a service that can be replicated by a robot, you are going to go out of business. If I were you, I would welcome this new technology and find out how I can use it to serve my clients better. It could just be a wake-up call to those advisers who charge too much for doing too little. If that is the case, I personally welcome the housecleaning. Matt Halloran is president and founder of Top Advisor Coaching.