Technology Special Section


Gabriel Cooper
Director, Business Development
Client Marketing Systems, Inc.– Advisors Assistant CRM


What is Most Misunderstood about “Robo-Advisors”?


Articles discussing digital advice platforms, pro or con, often feature images of robots or androids. They allude to “computers giving investment advice” as if the machine itself was somehow deciding what to say to clients. In one way, it makes sense-robots are a mascot for technological change. However, this can mislead readers into seeing them as autonomous entities.


In reality, there is little artificial intelligence used in Robo-Advisors. They’re using workflows, financial planning methods, and investment products almost entirely designed and administered by humans. You can use these same tools to your advantage.


Digital advice platforms aren’t replacing human thought with machine intelligence, they’re changing how the industry handles the logistics of everything from data gathering to account opening to maintaining the client relationship. They’re converting inaccurate, repetitious human actions into standardized business processes. Whether these processes remain human centric or not, they’re ultimately directed by humans and simply a continuation of the process improvements we’ve all pursued for decades.


What the Robos lack is the follow-up question in the fact finding phase. That question, and the experience of the advisor, changes the direction of the solution from, “I wonder why this was recommended?” to, “This advisor understands me!” The first step in meeting the challenge of providing the cost-effective, scalable, self-documenting service promised by “Robos” isn’t turning your business over to some A.I. overlord, it’s simply sitting down with your CRM and automating some of your business processes. Quality CRMs, like Advisors Assistant, offer Workflow tools to orchestrate this automation. As a result, many firms already have the tools necessary to face the challenge posed by Robo-Advisors.


The industry isn’t facing a war with robots… it’s simply being pressured to use existing methods to make much more efficient business processes. Advisors Assistant provides the tools you need to streamline these processes and increase efficiencies across your entire organization.


The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams.


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Client Marketing Systems, Inc. has provided software for the financial services industry for over 30 years. Advisors Assistant® is a powerful yet easy to use Client Management System whichcombines CRM with optional Portfolio Management and Insurance Management modules. The goal of Client Marketing Systems, Inc. is to provide financial advisors with a client management program which will increase their sales as well as help run their offices more efficiently. Advisors Assistant® has been upgraded over the years by listening to and incorporating its users’ suggestions.

More information is available at: @AdvisorsAssist 800-799-4267 | 805-773-7981