Dr Paulo Costa at HUM London 2023
How Clients Value Human and Robo Advice Differently
At Humans Under Management London 2023, Dr Paulo Costa, head of Vanguard Ville, presented on the differing values clients place on human and robo advice in financial services.
The talk addresses the critical question of whether technology poses a threat to human advisers and explores clients' perceptions of value they receive from both human and robo advisers.
Key Points:
- 93% of clients with human advisers prefer to stay with them, indicating strong loyalty.
- Only 24% of human-advised clients believe they would have peace of mind without their adviser, in contrast to 80% who do with one.
- Digital-advised clients show a willingness to switch to human advice, with 88% open to it, challenging common assumptions about technology's dominance.
- Emotional value and personalised financial planning are areas where human advisers excel, while technology is better suited for portfolio management tasks.
Watching this video will provide financial advisers with insights into client expectations, enhance understanding of the human versus robo advice landscape, and inform strategies for improving client relationships and service delivery.
