How The Role of A Financial Advisor Is Changing

Here is how a Financial Advisor has adapted over time.

Various aspects of financial planning

People can now choose and manage their own investments through fund

supermarkets. You can now compare and select insurance policies and a host of other

financial products at the click of a button. You are more empowered than ever

before and in-turn becoming less reliant on others to help them get what they want.

What This Means For Financial Advisors 

Although technology has empowered consumers with more choice and control, this

comes with an element of risk. Without guidance from a financial advisor they may

find that self-planning proves to be harmful to achieving the desired end results.

The problem faced by financial advisors is that consumers will continue to be

influenced by technology such as social media and online sites with easy to

purchase products. Technology has removed the need for many to meet face to face

with the majority of service providers, including financial advisors. Instead they

choose to use channels such as the Internet and social media to source general

information and email or livechat to communicate one on one.

Financial advisors must therefore adopt a new approach in order to remain relevant

and secure the custom of a new breed of clientele.

Building New Relationships

The success of financial advisors in the past was their ability to create a one on one

relationship with a client. These relationships built trust and security amongst advisor

and client, which converted into long lasting business relationships.

As technology has diluted the need for face to face engagement it has created a void

that has been difficult to fill.

While technology can be a starting point, an experienced advisor can guide

you through your finances and goal achievement on a personal level which

makes it efficient.  Contact us today to start out on your financial planning goals. 

Also  take a look at http://www.financeandmortgage.com.au/new-role-financial-advisors/ ‎.