The proliferation of so-called robo advisors is altering the competitive landscape. But because robos are not typically involved in more personal aspects of wealth management, advisors can expand their firms to include financial planning services as a way to competitively differentiate.

However, in order to construct a viable financial plan, an advisor must have a comprehensive understanding of the client’s total assets and resources. It doesn’t necessarily mean that the advisor has to manage them all, but she should have a complete picture of the client’s financial life, and data aggregation allows that to occur.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access