Video tutorial: How to bridge the advice gap around retirement
The advice gap is getting wider. People are living longer but most employees are under-funded for retirement. Coupled with the fact that there aren’t enough financial advisors to support everyone how can the industry help? That was the question that REBA director Debi O’Donovan put to Andrew Firth, chief executive of Wealth Wizards, at the REBA Reward Leaders' Forum.
Watch the Wealth Wizards Interview: ‘Bridging the advice gap’ in full
In a straw poll of delegates at the event nearly half (45%) of those in the audience said that they believed that they would have problems managing an aging talent pool in the future.
But with financail advisors an expensive – and scarce – resource what is the solution? “We’ve been pioneering the development of automated advice or robo advice,” said Firth.
“Advice in the workplace is something that I would argue that everyone in the workplace should at least be considering. People that are advised do increase their contributions,” said Firth.
“The robo bit is about bringing that through the phone or to a desktop in a much more accessible way. It’s more convenient and easer to access and more up to date and for employers it’s much more affordable and more consistent,” said Firth.
This video tutorial was filmed at the REBA Reward Leaders' Forum which took place on 27 April 2017.
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