The convergence of financial guidance and “full fat” advice is due for a revolution. Hybrid advice will be a game-changer, according to the report issued by financial planning software firm EV today (25 April). This concept of hybrid advice provides a vital bridge between the two types of advice, opening up “clear opportunities” for firms.
Hybrid advice combines the strengths of technology with the skills of personal advisers, creating an innovative solution for investors. Automated technology is used to deliver personalized planning solutions, providing investors access to advice that is fast, cost-effective, and thorough.
The benefits for advisors are clear: hybrid advice provides access to advice solutions of the highest quality at a fraction of the cost of traditional financial advice. For example, a hybrid advice tool can provide guidance on wealth management strategies and investments, while still leaving room for the human touch to be implemented. This can be a great value-add to advisors, enabling them to better serve clients with tailored solutions and advice.
The use of hybrid advice is a growing trend, particularly amongst ETFs and robo-advisors. As the industry continues to move towards digital solutions, hybrid advisors can help bridge the gap between automating solutions and delivering tailored advice.
Both investors and advisors can benefit from the concept of hybrid advice. Investors can access the securities knowledge and market analysis without leaving the comfort of their own home. As well, advisors can unlock their potential, using hybrid advice technology to provide a more comprehensive and personalized service.
Ultimately, hybrid advice is an innovative and forward-thinking approach to financial advice. It combines the strengths of technology with the skills of advisers, creating an unmatched solution for investors. The technology delivers fast, accurate, and cost-effective advice solutions to help advisors better serve clients, while still allowing for input from the human touch. The power of hybrid advice is coming—are you ready to make the most of it?