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Aussies Don’t Want Advice From a Robot

Posted by Anton Murray Consulting on . Posted in News

IFA

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.

The rest of this article can be found at ifa.com.au.

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