For financial advisors, technology truly is a double-edged sword. Growing numbers of financial advisors fear that technology will put them out of business.
However, it's becoming increasingly clear that technology is also the one tool that will enable financial advisors to fend off robo advisors and other competitors and allow them to retain clients and grow assets.
New data from
'There are a multitude of tools and technologies available to improve advisor performance and decrease costs,' says
Financial advisors who have embraced new technologies have experienced immediate improvements, with approximately 70% citing improved efficiency in client management and communication as well as significant improvements in document management and compliance tools. Furthermore, improvements in technology for clients have actually increased their trust in their financial advisor, with 37% of
'Advisors who fail to integrate digital tools will see their clients and assets under management at risk,' says
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