A recent Accenture investor study revealed that Canadians showed an openness to hybrid wealth advisement. In addition to their desire for transparency and low fees, four of 10 said they do not “get what they pay for” when using a traditional wealth advisor, leading them to explore other options such as robo-advice self-investing. And seven out of 10 told Accenture they already use at least one digital tool or service when investing.
The implications for wealth management firms doing business in Canada are clear. Hybrid advice—combining humans and robots—could be a way forward, not only to retain current clients, but also to help develop relationships with digital natives just now coming into their own money.