Investors Expect Their Advisers to Be on Top of Latest Technology

However, the majority would prefer to interact with a human adviser, as opposed to a robo adviser.

Ninety-five percent of investors believe it is important that their financial adviser use the latest technology and tools when advising them, Edward Jones learned in a survey of more than 1,200 investors.

Despite the digital shift brought on by the COVID-19 pandemic, however, 83% of investors would prefer to work with a human adviser as opposed to a robo adviser.

The investors said they want to work with an adviser to manage their overall financial health (33%) and make sure they are meeting their financial goals (23%).

“Human-centered relationships are at the core of our business,” says Frank LaQuinta, chief information officer at Edward Jones. “State-of-the-art technology is critically important to support the relationship and experience between our clients and branch teams. When we asked clients and investors what they wanted out of technology, they told us they wanted to know if they are OK, how did they get to where they are, and where are they headed. Clients are looking for a financial adviser to be a guide, someone who can understand them and help them achieve their financial goals. As clients’ and investors’ expectations change, technology will play an important role in supporting the evolving health, family, purpose and financial needs, helping them feel informed, understood, secure and in control about their future.”

Edward Jones’ new online access and mobile app allow investors to track their progress toward their individual financial goals and stay connected to their accounts, as well as communicate with their Edward Jones financial adviser.

Investors can also aggregate outside holdings in order to get a complete picture of their financial well-being. They can also conduct transactions, such as transfer funds, pay bills and deposit checks.

Edward Jones’ findings are based on an online poll conducted by Morning Consult among 1,241 investors from January 15-19.

Likewise, a recent Broadridge survey of 600 financial advisers found that because of the impacts of COVID-19, more advisers believe the quality of the technology they use is more important than ever.

Many also believe the virtual meetings that advisers have been hosting with sponsors and participants will continue even once the pandemic is in the rearview mirror.