Will The Robo-Advisor Be Short Circuited?

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Will The Robo-Advisor Be Short Circuited?

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September 23, 2014

At a recent conference attended by some of the best and the brightest in the industry, I was amazed at the disparity in views and concerns regarding the rise of the Robo-Visor. Relax…. Although the technology exists, I can't imagine getting on a pilotless transatlantic flight just as I can't imagine the majority of consumers handling all of their investments online.

That said, Robo like the discount brokerage firms that "threatened" the financial advisors 20 years ago, is here to stay. More than anything, this is a clear barometer that investing has become more commoditized. For the Investment professionals who proclaim themselves as money managers you will certainly have the most exposure for losing clients. For the financial planning professional I see this as an opportunity as more and more clients desire what I call the 3 C's. In today's fast-paced environment we have learned clients seek far more than just investment advice. They desire a Collaborator, a Connector, and a Comforter.

The Collaborator -
Sure we live in the information age, just don't confuse it with the knowledge age. With more and more data readily accessible to clients on the internet, they are seeking verification and validation in the decisions they are making. Not having someone make those decisions for them. They want someone who can sort through the vast array of opinions and make sense and what makes sense for them.

The Connector -
Beyond one stop shopping, Client's are seeking a trusted advisor who acts as a connector for many facets of their lives; tax, legal, lifestyle. Whether these services exist in your own firm or are made through introductions, inside your personal and business network, making your clients lives easier and saving them time will continue to increase your value.

The Comforter -
There is a plethora of data detailing the average consumer underperforming market returns. The bond crisis of the mid 90's, the Tech bubble, the Great Recession and whatever market correction occurs next will always be easier for the client if they have a trusted advisor to guide them through these emotional times. A computer or even a hotline will not be able to provide the wisdom and knowledge needed to traverse these difficult times.

So all of that said, don't fret but rather embrace the coming of the Robo. It may force you to up your game, but in the long run I believe it will allow you to deepen the relationship with your clients.

Written by: Kile Lewis, CRPC®
Co-CEO and Founder oXYGen Financial, Inc.
Want to learn more about join oXYGen?: www.oxygenfinancial.net

Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice.   This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000.   PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.


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About the author

Kile Lewis

Kile Lewis

co-Founder

Kile co-founded oXYGen Financial in answer to increasing requests from successful young people - Generation X and Generation Y investors, families, and entrepreneurs - for financial planning and advice matched to their unique needs. oXYGen Financial is a financial and lifestyle management company that understands that life isn't about income statements and balance sheets.

Kile is no stranger to the Financial Services Industry, having spent 15 years as both an executive and financial advisor for the 3rd largest broker dealer in the country. He amassed tremendous competencies in leadership and financial planning through his 15 years of tenure in both of those roles.

After earning his Bachelor of Arts degree from Georgia State University in 1994, Kile joined then, American Express Financial Advisors in Dallas, Texas. He quickly rose through the ranks of his advisor peers and was promoted to his first leadership position in 1997. Promoted to Field Vice President in 2002, he led one of the top offices for Ameriprise the years 2003 through 2006 and was awarded the Ameriprise Outstanding Leader Award in 2006. Through his eleven plus years of leadership, Kile has personally hired and developed hundreds of advisors and leaders.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. Investor Disclosures: https://bit.ly/KF-Disclosures

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation.

Background and qualification information is available at FINRA's BrokerCheck website.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.