Digital advice is expected to attract over $2 trillion by 2020.  The industry, (banks, asset managers, independent financial advisors) are trying to get their piece of the pie by providing a digital offer. 

Digital advice mainly aims to remove friction, allowing the advisor to service their clients  and build stronger relationships.  Technology has simplified how we access, use and interact with these products and services.

Advisors are facing downward pressure on fees.  Leveraging technology to match client objectives is the industry's future.  Many players have made the assumption that digital advice was just for the mass affluent market (under $100K) but higher net worth individuals also want to be serviced by digital tools.

Banks that lag behind their peers in the digital transformation could see up to 35% of their net profit eroded, while the leaders may realize a profit upside of 40% or more. 

In the U.S., even the Department of Labor's fiduciary rule is dead. Companies are upgrading their technology to meet client's best interest programs. 

The majority of financial advisors who are about to retire are not willing to make the move to digital.  The digital revolution is now mainstream and these advisors do not have a digital mindset in their practice.  The financial world is ever changing as we move toward the third decade of the twenty-first century.  Adopt or be left behind.