Younger clients are turning to digital platforms, such as robo-advisors, as they’re accustomed to convenient and low-cost digital solutions in other services
The new platform allows clients to access an advisor by telephone or email seven days a week between 7 am and 10 pm
The expected rise of robo-advisors doesn’t spell the end of human interaction
Integrating digital advice platforms is a major challenge
The Scotiabank subsidiary is the latest among the banks or bank-owned firms to enter the emerging digital advice platform
Digitally delivered financial advice is already making inroads into the advisory business, with much more to come. Younger, less affluent clients are the main users so far
Robo-advisors’ KYC process must amount to meaningful discussion
The firm’s U.S. division is also in talks with digital advice providers as it considers increasing digital advice offering to clients
ModernAdvisor will aim to identify and track clients’ financial goals, alert them if they are falling short and make recommendations to get back on track
Registration requirements are the same for all portfolio managers in Canada, whether they operate a traditional bricks and mortar model or an online model