Investors prefer live advisers who incorporate tech

Investors prefer live advisers who incorporate tech
Wells Fargo survey points to client advice preferences, as well as their biggest financial concerns.
JUN 23, 2015
Most investors would choose to work with a financial adviser who incorporates a digital or online component to their planning, a Wells Fargo/Gallup survey out Tuesday found. About 39% of investors said they'd most prefer this type of blended human and online approach to financial advice, while 26% would pick an automated solution that allows some access to a live planner, and 23% only want their financial advice from a human. About 9% said they want financial advice only delivered digitally, the May 2015 survey of 1,005 investors showed. (More: How much should advisers charge for a brand-new robo offering?) A crop of so-called robo-advisers have emerged in recent years that provide automated financial advice to clients at less expense than traditional, live advisers. “Technology is constantly evolving and changing how investors want to interact with their financial services firm," said Mary Mack, president of Wells Fargo Advisors. "Investors are telling us they truly value a personal relationship with an adviser who also uses technology in a collaborative way." In addition to advice preferences, the survey asked investors what their biggest financial concerns were. Topping the list, likely due to extensive attention given recently to hacking schemes uncovering massive amounts of personal data, identity theft sparked the greatest fear, at 57%. (More: What advisers should do after a cyberattack)

Investor worries

Source: Wells Fargo/Gallup

Latest News

RIA moves: True North adds $353M California RIA as SageView grows North Carolina presence
RIA moves: True North adds $353M California RIA as SageView grows North Carolina presence

Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.

Blue Owl Capital, Voya strike private market partnership for retirement plans
Blue Owl Capital, Voya strike private market partnership for retirement plans

The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.

Top Commonwealth advisor to recruiters: Stop with the cold calls already!
Top Commonwealth advisor to recruiters: Stop with the cold calls already!

“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.

Why AI notetakers alone can't fix 'broken' advisor meetings
Why AI notetakers alone can't fix 'broken' advisor meetings

Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."

Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit
Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit

The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.