How Technology is Effecting the Role of Financial Advisors

It is a commonly held opinion that the evolution of technology in the finance world has rendered the role of the financial advisor less valuable, but this couldn’t be further from the truth. In fact, financial advice in the form of portfolio management, specialist financial planning, retirement and education funding plans have all been enhanced by the utilisation of technology, bringing clients’ investments into the modern world and making services such as those at Churchill & Partners more efficient.

Firstly, clients will always receive a better service face to face, rather than through a tool or application that cannot respond directly to their needs, and this means that financial advisors will always remain relevant to the financial services industry. The best use of technology here, and the most often implemented, are tools for analysing investments and investment strategies in order to determine the best opportunities and the state of current investments, as well as what to avoid. This complements the roles of the financial advisor, as it simply makes it easier to look at an existing portfolio critically and with new context.

Financial advisors will add value to these determinations, however, with reactive strategies and advice that can help clients to take real control of their money and implement effective tactics that will ensure they make smart, informed decisions in the present and the future. Technology cannot replace the role of a dedicated financial advisor, but it can aid them in their perceptions, with it now much easier to determine the past and future state of specific investment opportunities and apply that information to the status of a particular client.

With these tools to help the process, technology can actually add value to the role of the financial advisor and see greater results for expat investors in the long run. Rather than relying on tools and services that have no room for human nuance and are incapable of offering a personal service, or using financial services that are resistant to change, get the best of both worlds with advice that incorporates all of the benefits of technology and classic advice.