Should Financial Advisors Be Worried for their Jobs?
With the ever-growing online software systems for finances, things are getting easier for customers and more difficult for the employees trying to reach them. Are financial advisors at risk with the newest advising software?
Financial advisors are often out of many people's price range, but this new online application is free – applicable to any budget. Companies like Mint.com offer easy-to-use money management software, but FutureAdvisor takes it beyond spreadsheets to provide advice to keep you on a clear financial track.
The system is easy to use and provides fast, easy support for its users. The new application is available to use on your phone, tablet or computer, making it easy to access your finances anywhere. FutureAdvisor is fairly new and already gaining national attention for its helpful system.
Consumers are worried about their financial futures and often struggle with keeping their accounts in line. This service looks at your finances and offers recommendations. Factors like age, risk tolerance and overall investments are taken into account, and the system alerts you when things need to change. If consumer's finances are beyond reconciliation and need further assistance, packages are offered for a fee to speak with an online advisor.
So what does it mean for the future of financial advisors? Those who are wealthy and don't want to spend time on their finances are still willing to pay for their services in order to have someone else handle it. However, with the rise of self-service software, we may begin to see more and more people go that route.
Sourced from Business Insider.