It appears clients care much less about their advisor's digital technology than advisors do.
The financial services industry spends a lot of time talking about technology and there are thousands of companies around the world and tens of billions of dollars being invested in financial technology or FinTech companies to enhance the digital offering. Yet, when you ask clients of financial advisors how important all this technology is, you get a surprising answer.
In today's show, I discuss a number of digital technology issues including:
Recent research which suggests a financial advisor's digital capabilities rank low in terms of the value the client gets from their advisor. The strategy behind offering, or not offering, robo advisor technology. The surprising result of my proprietary research on how many clients one advisor can work with and the real secret behind how to increase that number. The implications of all this emphasis on digital technology and what it means for client satisfaction and referrals.