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There is a general perception that robo-advisors should be used for less affluent clients and younger clients.
But according to Advisor Authority, a study commissioned by Jefferson National and conducted online by Harris Poll among more than 500 RIAs and fee-based advisors nationwide, the reality is very different. Robo-advice is a tool for top advisors—and an effective solution for both HNW clients and older clients. And in spite of all the robo-buzz, only 25% of advisors are extremely or very familiar with robo-advisors—and just 19% of advisors currently use any type of robo-advice in their practice.
A Tool for Top Advisors:
Top advisors are more likely to be more familiar with robo-advisors, more likely to be early adopters—and more likely to use roboadvice in their practice. 43% of High Earning Advisors (more than $500K per year) and 47% of Advisors with High AUM ($250 million or more) say that they are extremely or very familiar with the model, compared to 25% of advisors overall.
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ADVISOR AUTHORITY: The Innovation and Issues that RIAs and Fee-Based Advisors Care About Most
The industry evolves as innovation disrupts the status-quo, driving a move to greater simplicity, transparency and choice, fostering new business models, and ultimately creating greater value. RIAs and fee-based advisors are driving this change—and creating the future of our industry. To download a copy of Advisor Authority, financial professionals can visit us here .