Let them eat robotic cake

Introduction:

Fintech is making a significant impact in the wealth management arena. From client acquisition and engagement to advising to asset allocation, traditional business models have been disrupted and new players are gaining popularity. The dynamic change in the wealth management industry gives us the opportunity to ask very interesting questions related to the future impact of fintech in the wealth management arena.

Instructions for Initial Post:

Research indicates that “high-net-worth or ultra-high-net-worth individual still values a face-to-face approach to the [advisory] relationship…[while] for the mass-affluent and retail segments, full self-service and customer-service apps are becoming increasingly popular (Gupta, p. 364).”

In a minimum of 250 words and using proper citations, please address the following questions:

• If disrupting technology such as artificial intelligence (AI) and machine learning (ML) is said to make more efficient decisions compared to human individuals, why do you think that high-net-worth or ultra-high-net-worth individual still values a face-to-face approach to the [advisory] relationship?
• Why do you think this two-tier behavior exists?