The Street: Robo-Advisors a Useful Tool, Not the Enemy Says Jefferson National CEO
In an online interview with Gregg Greenberg of The Street, Jefferson National’s CEO Mitch Caplan discusses the importance of balancing digital advisory solutions with guided advice. According to Caplan, “Robo-advisors are not the enemy of (RIAs) because in the end, nothing can replace guided advice.”
Instead of seeing this new wave of digital advice as the enemy, Caplan recommends that advisors use these new technologies as one of the many tools to help increase the time that they can spend with their clients.
Our CEO explains as clients amass more wealth, the value and demand of face time grows. “The technology that is embedded in this robo-advice will become an important and integral part of an advisor’s practice and you will see the intersection of human capital along with technology,”
He also notes that tax deferral is an underrated tool in an investor’s arsenal. “In our mind, the ideal message in order to try and minimize taxes and maximize return is to figure out how you partner as a consumer with an advisor and that advisors have the right tools and technology to make it work.”
Watch the full video here.