Robo Advice Challenge Not a Factor – Poll

The result of our latest poll tells us a lot about the extent to which you regard the emergence of robo or digital advice as a competitor to the advice services you deliver. The short answer is that you don’t.

In a rare moment, the number of votes we’ve received on this poll question tell us as much about the importance of this issue to you as the result itself.

the majority …dismiss robo advice as a competitor to the value delivered by human advisers

For the record, as we go to print, the majority of those who have voted (56%) dismiss robo advice as a competitor to the value delivered by human advisers. Just over one in five (22%) believe robo advice does compete against the value served by advisers, with another 22% yet to make up their mind.

The number of votes on this poll are well down on the numbers we usually receive, which suggests not as many advisers and/or other Riskinfo readers are sufficiently engaged with the issue in the first place to add their vote. The relative lack of engagement with this topic compared with virtually all the other polls we’ve conducted in recent years suggests the emergence of robo advice and its potential impact on the human advice narrative sits well down the list of priorities presently occupying the adviser and their business. Perhaps this comes as no surprise, given the litany of issues impacting the advice sector over the last 10 – 15 years in particular.

Nonetheless, we’re keeping this poll open for another week and welcome your thoughts as we look ahead to the inevitability of a more digital personal advice world over time…