BISA Magazine - Quarter 1, 2017 - 6

UP FRONT

Coming Soon:
The "Bionic Advisor"

hat will the advisor of the future
look like?
A silhouette is already taking shape as
investing becomes more and more of a
commodity business and technology plays
a larger role in the delivery of wealth management advice.

"Robots will not replace human advisors, but they will supplement advice delivery in a positive, efficient way. The quicker
firms are able to integrate the two in a 'bionic' fashion, the
more likely they will become industry leaders," according to
the study.
Some other conclusions:

Thus, the future advisor will be more of a "financial therapist," according to a recent study commissioned by Laser App
Software, using "robots" to supplement their financial advice.

* The U.S. wealth market is huge and will continue to
grow, creating unprecedented opportunities for wealth
management.

"The one constant we have seen with investors is that people
are emotional when it comes to money," notes the study.
"Our brains are hardwired to make wrong decisions when it
comes to volatility or uncertainty, and thus will always seek
out human advice for the big issues, goals and aspirations we
have and want to accomplish with our financial resources."

* Financial advisor is one of the highest rated for job satisfaction and will continue to be a top career choice. The
key is to continue to groom the next generation of advisors to drive success.

Translation: Investors will always require a lot of hand-holding, and robots just aren't equipped for that. You can't take
the human element out of financial advice.

* Operational and client-facing technology will be the key
to increasing capacity and meeting new client expectations. The winning firms will be those who increase
investments that will have the biggest ROI.1

For more see http://www.nexus-strategy.com/sites/default/files/users/timothywelsh/PDF/Nexus%20Strategy.5-Mega-Trends-in-Wealth-Management_WhitePaper.pdf

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http://www.nexus-strategy.com/sites/default/files/users/timothywelsh/PDF/Nexus%20Strategy.5-Mega-Trends-in-Wealth-Management_WhitePaper.pdf http://www.bisanet.org

Table of Contents for the Digital Edition of BISA Magazine - Quarter 1, 2017