In a constantly evolving technological environment, the question arises: is the wealth manager profession threatened with extinction? Financial technologies, combined with an increasingly volatile economic environment, is amplifying the demand for thoughtful strategic planning. Intelligent robots are in constant development.
The replacement of asset managers by robots: truth or myth? Let’s look at the situation:
The impact of digitalization
The digitization of financial services offered by asset management companies has introduced automated, intelligent platforms. These tools, based on complex algorithms, promise efficient asset management. These tools, based on complex algorithms, promise efficient asset management. In addition to the accuracy of the information provided, these platforms offer rapid access, which helps to reduce processing times.
Growing demand for tailored services
A look at the financial markets reveals a growing number of financial products available. However, this multiplicity of products requires the development of innovative strategies and the provision of financial advice tailored to customers’ evolving needs.
The asset manager: the hero of the story
Despite the many benefits and opportunities currently available on the financial markets, the idea of replacing asset managers with robots remains a distant prospect. Artificial intelligence can be effective in managing certain metrics, but decision-making power is best left to humans. Thanks to their experience, asset managers can manage portfolios more effectively in times of crisis, making strategic decisions based on a comprehensive understanding of the financial environment (trends, analyses, etc.), unlike artificial intelligence, which is limited to quantitative data.
High-net-worth clients: are they really ready for the transition?
Despite the strong public interest in artificial intelligence, human interaction remains by far the preferred means of communication when it comes to investment advice. Private clients, investors and asset management companies are not yet fully familiar with automation tools. Given the constant evolution of these technologies, the assistance of a real consultant remains crucial.
What if we combined human expertise with virtual technology?
One possible solution for ideal asset management is to combine human expertise with artificial intelligence. Many private customers find that using a virtual assistant for simple tasks is a time-saving and efficient solution. The asset manager, on the other hand, is their trusted partner for the most complex requests requiring a certain level of expertise.