Yes, agreed. Although I hypothesize that majority of the existing 'advice' provided by many over the years could have been provided by a robot, and will be in future. A lot of financial advice has been less about 'advice' and more about sales.
I see a future where only high net worth individuals paying high fees get a face to face adviser, the rest are serviced by robot or scaled phone services etc.
Its just really not that profitable anymore for anyone with 'mums and dads' clients due to all the red tape and forever rising costs.
IFL Price at posting:
$4.82 Sentiment: None Disclosure: Not Held
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