Navigating the Digital Revolution: The Future of Financial Advising
The financial advisory industry is undergoing a sea change, driven by digital advancements and emerging technologies in finance. The traditional meeting with a financial advisor is now increasingly embellished-or even trumped-by solutions that automate the process, artificial intelligence, and the use of digital platforms. This allows for better access, efficiency, and personalized financial solutions for customers. The need of the hour is that asset advisors and investors ourselves train to handle online technology in order to accomplish the goals of finance. The Rise of Robo-Advisors What Are Robo-Advisors? In general, Robo-advisors are online financial platforms that use algorithms to manage investments. Their design allows them to tailor and vary investment strategies with very little human intervention, depending upon the investor's goals and preferences, as well as his or her risk tolerance. Benefits of Robo-Advisors: Lower Fees: Robo- advisors generally come with low fees...