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While many tasks will be accomplished digitally with the near-term emergence of AI and machine learning, Broadridge's Kevin Darlington says that advisors who adopt a digital and holistic approach to their practice management will be in high demand. In fact, a recent ESI ThoughtLab report revealed that 50 percent of investors consider the ability to provide holistic goal planning as one of the most important criteria in selecting a wealth advisor.
Tomorrow’s successful advisor will effortlessly assemble a 360-degree picture of client goals, strategies and assets. Darlington believes the race between advisors and machines will be a win for both clients and advisors. In addition to becoming data-enabled in the holistic, client-centric model, each advisor will have to gauge what he or she does best and carve out their own niche to play well with others.
In this "Managing Your Practice" article for NAIFA’s Advisor Today, Darlington explores why advisors should incorporate digital advice.
For further insights and to read the full article, go to page 10 in the NAIFA Advisor Today publication by clicking the link below.