Investors Don’t Want to Replace You With a Robot: MDRT Survey
February 26, 2019 by Emily Zulz
Americans have not outgrown human advisors, according to a study by Million Dollar Round Table. Rather, the study finds that their preference lies in combining the personal touch of an advisor alongside cutting-edge technology.
The study by MDRT, an independent association of more than 66,000 life insurance and financial services professionals from more than 500 companies in 72 nations and territories, explores the fintech revolution and attitudes regarding the use of tech to complement a traditionally human relationship-based industry.
The survey, which was conducted online from Nov. 1-5, 2018, included 2,008 U.S. adults ages 18 and older, among whom 771 currently work with a human financial advisor.
According to the study, the majority of Americans (88%) want tech to complement, not replace, human financial advisors. In fact, 85% said they would rather work with a human financial advisor than a robo-advisor.
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