Generalist advisers will be put under pressure by cheap automated alternatives as consumers increasingly question the value of advice, online adviser Wealth Horizon has said.
Solutions which guide consumers through an automated advice process can be delivered cheaper than face to face advice and in many instances serve consumers' financial needs, said chief executive Chris Williams (pictured). Generalist advisers will face the perfect storm of increased investor savviness on the one hand, the Retail Distribution Review's transparency around fees on the other and the emergence of easy to use intelligent computer systems, he said. Automated advice services are quickly becoming more common with an increasing number of advisers and providers considering the op...
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