How Wealth Management Firms Can Compete Against Robo-Advisers

Wealth management advisers have been competing against robo-advisers for years. Recently, however, Charles Schwab has announced it is offering a service that combines automated investment management with human advisers. In a recent story in Reuters, the Schwab Intelligent Advisory service will provide clients with a customized financial plan along with advice from live certified financial planners and an automated portfolio.

While this and other automated and hybrid investment advisory services do help the small investor, it can mean more competition for traditional financial services firms that provide human advisers dedicated to individual client investment goals.

Investment News reported on a survey by the Financial Planning Association and Investopedia that, even though investors using digital advisers were nearly as happy as those who used traditional investors, nearly 40% of the respondents said they would prefer investment planning services from both traditional and online advisers. It also found that most people still prefer the human touch for estate planning, elder-care planning, tax planning, and health-care planning services.

To be sure, the game is changing and has already changed.

So how does the traditional financial services company compete in this digital arena? The answer is providing value and an exceptional customer experience.

Use Microsoft Dynamics 365 to Your Competitive Advantage

For financial services firms, value and customer service come from having a real-time, 360-degree view of your organization. Dynamics 365 gives you comprehensive ERP functionality combined with world-class CRM capabilities. Streamline your operations, increase productivity, and give decision-makers access to real-time data on the health of the company with Dynamics 365 for Operations. Give your sales force the ability to spot client trends with Dynamics 365’s CRM and Business Intelligence features.

Dynamics 365 helps your company anticipate customer needs and proactively offer personalized service that customers notice.

AKA Enterprise Solutions has helped financial services firms like yours gain a competitive advantage through technology solutions like Dynamics 365. See how AKA helped CAPTRUST in this short video:



Contact the experts at AKA to see if Dynamics 365 can help you compete in the age of digital wealth management and robo-advisers.

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