Three quarters of people still favour face-to-face advice - Openwork

Despite surge in robo-advice

Sophie King
clock • 1 min read

Three-quarters (73%) of people have said they prefer face-to-face advice despite a rise in so-called robo-advice solutions, research by Openwork has found.

The study, which surveyed 1,014 individuals, also revealed 71% of respondents had concerns that robo-advice may not be entirely appropriate for their financial needs. Openwork said the data showed there was still a preference for human interaction when receiving financial advice and therefore means "huge opportunities" remain for people to pursue a career in the sector.  However, the advice network also found younger people appeared to be more supportive of 'robo solutions'. The research revealed almost half (44%) of under-25s had no concerns that robo-advice may not be appropriate...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Andrew Goodwin: Why 2024 served up a familiar investment lesson

Andrew Goodwin: Why 2024 served up a familiar investment lesson

Further twists and turns no doubt await in 2025

Andrew Goodwin
clock 03 January 2025 • 4 min read
Marcus Rashford's investment company at risk of closure

Marcus Rashford's investment company at risk of closure

Failing to produce accounts

Linus Uhlig
clock 03 January 2025 • 1 min read
Feel Good Friday: Hoxton Wealth launches online community for aspiring financial planners

Feel Good Friday: Hoxton Wealth launches online community for aspiring financial planners

Study support and access to industry events available

Professional Adviser
clock 03 January 2025 • 1 min read