Myth: Robo-advisors will replace human advisors.

Steve Lockshin, Founder and Principal of AdvicePeriod

Will robo-advisors replace human advisors? Find out one thought leader’s opinion in this episode. Listen in as Kathleen interviews Steve about his work at AdvicePeriod and his view of how advisors need to embrace change to best serve their clients. 

Key Take Aways: 

Technology helps advisors better serve you. If you are a do-it-yourselfer now, then you probably will embrace robo-advisors. However, if you prefer to meet with an advisor in person, this technology will only enhance your advisor’s customer service. 
Women tend to be more receptive to changes in client service models. Steve notices a difference in how women versus men think about robo-advisors. In general, his research shows that women tend to be more receptive to this type of change in the industry and like the simplicity of the technological offerings. 
Talk to your advisor about how technology can help you achieve your financial goals. Are you still unsure about robo-advisor offerings? Then talk with your financial services professional about when, where, and how to incorporate this technology into your relationship. 

Bio: 

Steve Lockshin is a Founder and Principal of AdvicePeriod and the author of Get Wise to Your Advisor. His firm’s mission is to reinvent wealth management and improve the advisors’ and clients’ experiences. Steve has won numerous awards in the industry and has been ranked #1 by Barron’s numerous times. He helped pioneer the independent advisory industry, building one of the largest independent RIAs in the nation, which was acquired by City National Bank in 2007. In 2018, AdvicePeriod was named one of Inc. Magazine’s Best Workplaces.