Technology hasn’t just transformed the way we deposit checks and buy or sell stocks—it’s also changing the way Americans analyze their portfolios and seek advice. Americans are increasingly exploring new options like robo-advisors, but also maintaining their desire for guidance from a financial advisor.
Use of technology for managing finances is becoming common place:
All generations, but particularly millennials, are interested in robo-advisor platforms
There are opportunities to create a more seamless investor experience between digital platforms and face-to-face engagement for the internet using consumer.
Among the mass affluent, the top source of information used to make long-term savings and investment decisions is a financial advisor (47%), but online sources are a close 2nd (43%).
Amongst Americans with advisors, most people (57%) who do some kind of financial activity online prefer their advisor to act as a partner who works with them to make financial decisions.
From online banking to robo-advisors, financial solutions have moved online. The next big shift is how investing solutions are moving to mobile—with millennials leading the way.
The sheer volume of information available to investors can be intimidating—but technology can help investors hone in on the most important steps to take. By focusing on a few key priorities, investors can harness technology to achieve their financial goals.
By using a retirement income calculator like BlackRock’s CoRI™, you can see how to “close the gap.”
Use technology and data as a resource, not a burden: don’t get overwhelmed by the noise and remember you’re in it for the long haul.
Use the internet to find the right financial advisor and have a conversation—it can help you focus on your goals.