‘Robo-Advice’ was the future and was going to take over the bulk of the Financial Advice sector.
Investec invested more than £32 million in a Robo-Adviser investment service before pulling the plug in 2019. The CEO wrote at the time “The entire fintech sector has been hyped … to think you can create a parallel financial sector to the existing one is a fallacy.”
What the new world has done is not to create a parallel sector, but to move the dial on the mainstream. The new world now provides an easier way to deliver the same advice and service that clients value and are keen to pay for. Zoom calls lasting hours have been reported, and with screen share and remote property surveys now available the world is opening up possibilities for advice previously unthinkable.