We use cookies to support features like login and allow trusted media partners to analyse aggregated site usage.
To dismiss this message and allow cookies to be used, please click "Continue".

Continue

News/Analysis

Twitter board

Follow us
  • RT @BNPPAM_COM: 2017 was one of the most active hurricane seasons on record, causing up to USD 475 billion worth of damage. What are the in…2 days ago
  • RT @PensionsTony: At the Aon London #pensions conference. About to start my workshop on how well #DC schemes are meeting the needs of #memb…2 days ago
  • Andrew Wauchope talks to Mark Dunne about charities and their pension schemes, the secret of being a good trustee a… https://t.co/xcdcxs61QL2 days ago
  • Enter the Dragon : China’s inclusion in the @MSCI_Inc Emerging Market index has caused little excitement, but, as L… https://t.co/oy0EdSI6A84 days ago
  • The @InvescoUKinsti whitepaper: Responsible investing and active ownership. Invesco’s Bonnie Saynay and Henning St… https://t.co/E3Gdh9eDSM9 days ago
  • Charlotte Moore looks at the reaction of financial markets to Brexit has already changed the shape of the relations… https://t.co/6KH9jnWTtq9 days ago
  • RT @AonRetirementUK: Want to know more about the benefits of factor-based investing for your DB pension scheme? Aon’s next Investment Break…10 days ago
  • Learn more about why everyone is talking ESG on our new ESG HUB, where we will be publishing our latest features pl… https://t.co/Dg9FiwCPCn11 days ago
  • 2018: The year of the human?. Cyber crime, greater disclosure, fixed income, people and, of course, climate change.… https://t.co/HMkzWcrFNy11 days ago
  • ''Building a global portfolio of equities could also provide much needed diversification'', discover why in our Glo… https://t.co/y90GhLlmCD11 days ago
  • What is your stance on executive pay? is bigger really better? Read more in our new ESG feature:… https://t.co/cUXMiCDuE536 days ago
  • November Magazines Cover Story : Interest rates - The slow return to normality . What impact will this have on port… https://t.co/7RYFEXJMVL39 days ago
  • ''Alternative assets have been one of the winners of the banking crisis, which marks its tenth anniversary next yea… https://t.co/pbLbxU9tza39 days ago
  • Pension scheme buy-outs could top £30bn this year - @JLT_EB https://t.co/JhiPizcTnc #pensions52 days ago
  • @PensionsInfra to spend £400m on interests in 10 PPP infrastructure projects https://t.co/O2Lfmy16B6 #infrastructure #pensions87 days ago
  • FirstGroup consolidates £700m of pension assets within the LGPS to create £1bn fund - https://t.co/tOmO0W84h588 days ago
  • £10bn wiped off #FTSE350 DB schemes in October - @JLT_EB https://t.co/iTO0fE005i #pensions113 days ago
  • Capita Asset Services upgrades its UK dividend forecast for 2017 to a record £94bn - https://t.co/9rBSfa16fz #dividends122 days ago
  • Smiths Group shifts £207m of liabilities to Canada Life https://t.co/bJvq65vuB2 #pensions123 days ago
  • A special feature from our sponsor SYZ Asset Management – ‘Contrarian investing in the Italian banking crisis’ https://t.co/6tOeW272XB144 days ago

Pensions

Advisers fear robo-advice scrutiny

Advisers fear robo-advice scrutiny

Mark Dunne
Friday 3rd November 2017

The majority of advisers are worried that the rise in robo-advice will put them under greater regulatory scrutiny, research from Prudential has found.

More than three-quarters (76%) of those questioned for Prudential’s 2017 Adviser Barometer are worried about possible long-term compliance challenges.

The report also uncovered concerns over the quality of robo-advice with two out of three advisers (67%) believing that such an innovation will not offer clients the best outcomes.

Attitudes are changing. Of those questioned, 69% now believe technological-based service can be beneficial. This is a marked rise on the 17% that believed this when surveyed for last year’s study.

Many are planning to launch their own robo-advice system with 41% working on such a strategy to run parallel with their traditional services.

Other highlights include 40% of respondents believing that robo-advice is a threat to their business, while more than half (54%) see it as only being suitable for clients with smaller funds.

Prudential’s head of business consultancy, Paul Harrison, said there is a growing acceptance that robo-advice has a role to play, but advisers are concerned at the potential regulatory impact it will have.

“Many advisers remain sceptical about the risks and rewards of robo-advice, although improved technology can bring greater efficiency, reduce costs and help advisers to serve clients better while continuing to run viable businesses.

“However, views are changing rapidly as technology expands. Advisers will need to adapt to prove the ongoing value of bespoke advice and benefit from the opportunities technology offers.”

0

Leave your comment

View our comments policy

Please login or register with us to leave a comment. It's completely free!