Automation is Here to Stay in Wealth Management – Are You?

For the past couple of decades, wealth management has been a pretty sleepy corner of the financial services industry. Not much has changed in the process of delivering financial advice over the years, despite the fact that there have been seismic shifts in technologies, demographics and consumer demands during that same time frame.

As financial advisors, we’ve been able to pretty much navigate the last ten or fifteen years with a complicated story about the markets, peppered with some industry jargon, an excel spreadsheet or two, and a lucrative AUM fee. Life was good.

But, fortunately for some and unfortunately for others, those days are over.

Wealth management today is being quickly and drastically re-written by new competition, technology advancements and a new generational view that “we don’t want to work with our father’s advisor anymore.”

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