A Comparative Analysis of Financial Advisors and Robo Advisory

The financial advisory ecosystem is evolving each day. We are long past the age where we only had to rely on the pieces of advice from the IFAs, most of which centred around their benefits. Nowadays, the world is a lot more alert of the advises and aware of the latest wealth management software to make their way past the usual difficulties.

Moreover, with the emergence of the all-new Robo Advisory technology, Fintech organizations are improving their financial services faster than ever. These algorithm-based predictive financial advisory services are also available in our country and are rapidly changing the ways of the Financial advisory ecosystem. However, are they promising enough to replace the financial advisors?

Let’s check it out:

Benefits of Robo Advisory

Robo Advisory in India is experiencing significant growth. Here’s what it offers:

● 24/7 Availability - Robo advisory is accessible 24/7 all around the year.

● Cost-effective - Unlike the financial advisors, Robo advisory offer you services at little to no costs.

● Customized advice - You can expect custom advise with Robo advisory because the advice here depends on the data you feed.

Benefits of Financial Advisors

In case someone is not much familiar with the financial planning tools and techniques, then they can always go for the financial advisors. Let’s look at the service highlights of the IFAs:

• Knowledgeable and experienced - The financial advisors are highly valued for their experience and expert advice, which often scores in the long run.

• Personalization - You can personalize your advice according to your financial condition and goals set.

• Holistic approach - Unlike the Robo advisors, the financial advisors remain more emotionally connected with their clients and help you get the best advice possible. Thus, investors expect a lot from their advisors.

The Robo Advisory looks quite promising, but whether they will replace the financial advisors in the coming years is subject to debates and discussions.

EndNotes

Although the financial advisors of today are experienced and equipped with premium digital wealth management solutions, they always need to be updated with the current market conditions to sound relevant in the age of the Robo advisory. Check out the full blog here: https://blog.fintso.com/financial-advisors-vs-robo-advisory-a-deep-study/