Aussies Don’t Want Advice From a Robot

Posted by Anton Murray Consulting on . Posted in News


Wealth giants attempting to replace people with machines should do their research first. People don’t want financial advice from a robot. I can see the value in robo-advice for a large organisation like a bank or super fund. It’s scalable, probably easy to push products through and doesn’t come with the emotional baggage that human beings do. You also don’t need to pay it a salary or commission.

But clients are emotional beings and money is an emotional subject. The irony in much of the robo-advice strategies being promised – that they can service the mass market client – is that the ‘mass market’ client is probably the one who most requires the services of another human being. Compassion and empathy are being undervalued here.

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