Adviser businesses invested in robo 'more valuable' - Ian McKenna

Acquirers look to exploit data

Hannah Godfrey
clock • 2 min read

Investing in a digital system or implementing a robo-advice capability means advisers can sell their business for significantly more money, according to Digital Wealth Insights director Ian McKenna.

Speaking at the latest Space 01 'Money Talks' seminar, McKenna (pictured) said it had been suggested to him there was "zero value" in paper-based advice companies. That, he argued, should provide "a strong incentive" to older advisers nearing retirement who might otherwise consider robo-advice unnecessary or advanced back-office digitalisation an annoyance. "To me, a digital enterprise is one where all the information and the records are electronic," he added. "It's a massive investment - anybody selling a business obviously wants to get the maximum return for it but the more you do to e...

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