Is technology the key — or a roadblock — to building client trust?

Advisory firms are caught in a tricky balance of building client trust with the human advisor and new technology, like AI, in order to keep up with demands. 

But based on a recent survey by the FINRA Foundation, something is missing in building trust with both the advisor and technology. 

As part of the survey, about 1,000 investors were given the same financial statement on stocks and bonds. Half were told the statement came from AI, while another half were told it came from a human advisor. The results found that nearly an equal amount of respondents trusted the phrase when it came from AI (34%) as those who trusted it coming from a human advisor (33%). 

Some say the industry is missing the mark in building trust with clients, and perhaps technology can be used to deepen that human relationship, rather than impair it over fear of AI. 

You can read more on the survey as well as proposed solutions here, and much more at Financial Planning. 

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