Kirsty Anderson,
Business Development Manager
- Three out of four advisers believe robo solutions can help close the advice gap
- Advisers spend an average 26 hours a month on non-fee earning activity
Advisers are becoming increasingly convinced by the contribution that technology can make to boosting their businesses and addressing the advice gap, exclusive research from Prudential shows.
Its 2018 Adviser Barometer found nearly half (49 per cent) of firms plan to offer robo solutions alongside traditional services in the next 12 months and about 56 per cent of those questioned believe robo-advice can help grow their business.
Prudential has been tracking advisers’ attitudes to robo-advice since 2016 when it first launched its Adviser Barometer study highlighting the challenges facing advisers. The 2017 study found 41 per cent of advisers planned to launch robo solutions while 46 per cent believed tech-based advice could help grow their business.
The biggest swing in advisers’ attitudes, however, has been in the role robo-advice can play in closing the advice gap. In 2016 just 17 per cent believed robo was a credible solution – now that is 75 per cent compared with 69 per cent in 2017.