© 2020 ijrar september 2020, volume 7, issue 3 study on...
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© 2020 IJRAR September 2020, Volume 7, Issue 3 www.ijrar.org (E-ISSN 2348-1269, P- ISSN 2349-5138)
IJRAR19S1611 International Journal of Research and Analytical Reviews (IJRAR) www.ijrar.org 911
STUDY ON ROLE OF DIGITAL PLATFORM’s IN
ELEVATING THE BUSINESS OF IFA’s (Individual
Financial Advisor’s)
Anand Bharti
BIMHRD
SRI BALAJI UNIVERSITY, PUNE.
RESEARCH ABSTRACT
The Main Aim of the study was to Identify the Role of Digital Platforms in Elevating the Business of Individual Financial
Advisors (IFA’s). The Participants in the study were various Individual Financial Advisors who are using these Digital
Platforms. The target was to Collect data from around 150 (IFA’s) and study their viewpoint, Impact of Digital
Platforms, Conversion Rate of Clients After Providing Services through Various Digital Platforms. Better service
delivery, client retention, Increase in Revenue after providing services through Digital platforms. In the study various
Research papers, Articles published by well knows Publishers were taken into consideration for the secondary data. By
analyzing the secondary data there was enough evidence gathered on Impact of Digital platforms and Client’s
Conversion rate. Which summed up that Digital platforms does play and Important role in Elevating the Business of
IFA’s. For the collection of Primary data, A questionnaire was prepared focusing IFA’s to understand the impact of
Digital Platforms in their business. Various Digital platforms were identified by which IFA’s can provide their services
such as ET Money App, Trade Mobi and Etc.
Key Words- Digital, Platforms, Clients Conversion Rate, IFA’s. Better service Delivery, Increase in Revenue.
INTRODUCTION
Individual Financial Advisor’s also known as Independent Financial Advisor, In other countries as Financial Planners,
RIA- Registered Investment Advisor’s. In the recent Year or say form the beginning of the 20 th century the digital
disruption in the Financial Sector took place. As they say change is Inevitable, The Financial Advising sector also
experienced this change. As the topic is to study the role of Digital Platforms in elevating the Business of IFA’s . one
will commonly understand this how social platforms are adding on to the business of IFA’s no doubt the Digital
phenomenon take Social platforms also in its consideration but the study here is far more in depth and wider in its
horizon, Social platforms, Search Engine and many others part of the Digital Evolution does play and important role in
elevating the business of IFA’s. In today’s times it is hard to imagine, A business which is not listed on Google or
doesn’t have a Facebook page, being on this platforms brings greater customer reach for sure, but in the study when we
are discussing the Digital Platforms for IFA’s we are talking about a much more sophisticated system which helps an
IFA to provide end to end service through this kind of platforms. Large Business firms which are in the business of
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Wealth Management already has that kind of Infrastructure where they already provide services through various Digital
platforms available to them.
In order to keep up with the competition it is essential for the IFA’s to go for this kind of Digital Platforms, For Individual
Financial Advisors the major Chunk of the business comes from the Emerging HNI(High Net Worth Individuals) Sector,
not only this sector is digitally active but also finds Digital Platforms easy to use and handy. One of the main aspects of
wealth is you need access to it every moment of time, Digital Platforms provide this Mobility, Adaptability and bring in
many more features for this kind of customers. This the major reason why many IFA’s are now moving towards this
kind of Platform’s which gives them End to End Solution. Platforms Such as ET Money, And ANAND RATHI Trade
Mobi in India, gives Individual Financial Advisors the Digital Platforms where they can serve their client in a much
more effective and efficient way. These Digital platforms not only gives IFA’s a much better system to handle their
client but also provide them the Algorithm based Financial Portfolio Which are generated by them. Digital Platforms
reduces the Paper work, Time spent in making and Studying various Investment Proposals, the Digital platform does all
this with a single touch or a simple click, which gives time to IFA’s to increase their business, gives them the opportunity
to interact more with the Prospect customer. The more the interaction is the higher are the chances of converting a client.
However, there are some draw backs also, Adaptability towards these Digital platforms is still in question with India’s
Market context, also Security of these Platforms are also a big question, IFA’s are into middle of this on one hand they
need it to Increase their business horizon and on the other hand they need to be very cautious with the drawbacks that
comes with this kind of platforms.
LITERATURE REVIEW
According to (Grace, 2019) in his research paper, Next-gen Financial Advice: digital Innovation and Canada's
policymakers, concept of Digital Financial Advising was discussed in brief, Digital Advice provides a stronger
opportunity for a stronger client impact. In the Future it will see human advisor complemented by Digital collaboration
through technology that is not disruptive but generally proven, likely economical and widely available.
According to (Stella, 2019) in their Research paper Digital Finance and its impact on Financial Inclusion. Found that
Digital Finance plays a vital role in the day to day activities of the people. In their study they found out that Digital
Platforms are much more convenient and Usable. There were some limitations also with these Digital Platforms such as
Adaptability towards Digital Platforms and Security were among the major concern.
According to (Diederick Van Theil, 2017) in their Research paper published by Economics World, Studied the aspects
of customer experience of Digital Driven Financial Advice system, and identified the various aspects that Financial
Advisors can improve in order to give their services in a much more effective manner, multiple competition to Financial
Advisor’s who are using Digital Platforms were also Discussed Such as Introduction to Robo-Advisor’s.
According to (Crlos Lassala, 2016) in their Research paper Alternative Paths to High Performance of Independent
Financial Advisors: A Fuzzy-set Analysis. studied and Identified that Involvement in Innovation activities is the most
relevant factor in Financial Advisor performance, Individual Financial Advisor may achieve higher sales thanks to
engaging in Innovation activities.
According to (Chaston, 2011) in his Research Independent Financial Advisor: open Innovation and Business
performance studied the behavior of Independent Financial Advisor (IFA’s) in terms of their involvement in network
and open Innovation. In which it was discovered that IFA’s involvement in network and open innovation can assist
business performance.
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According to (BNP PARIBAS CARDIF, 2018) in a report on 11th annual Market survey of independent Financial
Advisors (IFA’s) and their clients conducted by KANTAR TNS. Identified some important Factors related to
Individual Financial Advisors. 90% of independent financial advisor already make extensive use of digital solutions.
Digital transformation is among the top three priorities for IFA’s. 74% of the independent financial advisor finds that
their client are increasingly better informed due to inclusion of digital channels. The major gap that was identified in the
survey was 85% of IFA’s says that they are comfortable with the Digital Tool, compared with just 69% of their clients.
According to (Belbey, 2017) in Article published by FORBES, highlighted the point of study in her Article named
Financial Advisors: 15 tips to use social media (compliantly) in which use of Social And Digital Platforms were
discussed in which how use of this Social And Digital Tools helps a financial advisor build his business and how its
helps in doing business in a much more simpler manner were highlighted.
According to (Obrien, 2019) in a very Article published by CNBC, article identifies some key points associated with
Individual Financial Advisors, on the premises of Financial Technology survey (2019). Advisors says that software
programs help encourage clients to be more active Participants in their planning. Digital platforms reduce the number
of your time that advisor spends in calculation in order that they can concentrate on strengthening client relationship.
According to (Cisco, 2017) in their Article, Financial Services Digital Transformation Group discussed the Purpose
“Wealth client expectations are changing They question the fees they pay money for financial advice. They expect to be
presented with financial solutions supported their own life goals and events, and that they are less fascinated by being
sold transactions or products. And that they wonder why they don’t get the identical customer experience from their
financial advisor that they get from retail, entertainment, airline, and other industries – including mobile apps and digital
services that folks use in their daily lives”
which highlights further on what Financial Advisors should do to enhance their services, and the way how Digital
Platforms can help them roll in the hay.
According to (Kerr, 2014) in his article, Financial Advisors improve Client Retention and Increase AUM with
Digital and social tools, in which he took reference of a report published by Accenture on Reimagining wealth
Management for the Digital Age. The findings suggested that over a half of Financial Advisors have Found and/or
converted clients via Digital Channels. More than 75% of financial advisors have improved client retention via
Digital/social tools. 74% of Financial Advisors have increased asset under management (AUM)via Digital/social tools.
RESEARCH GAP –
After a thoroughly reviewing the Literature, it was identified that NO study Focusing IFA’s has been done yet in context
of Digital Platform and its impact on their Business. Addressing issues such as increase in revenue in terms of
commission after providing services through Digital platform’s and Better services delivery to clients via Digital
Platforms.
RESEARCH PROBLEM
What are the viewpoints of Individual Financial Advisor’s towards the Digital Platforms available to them, and its impact
on their Business? Understanding the view point of IFA’s is very crucial this question will not only address the problem
but also give insight about the topic in details.
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OBJECTIVES –
1.To understand the role of Digital Platforms in elevating the IFA’s Business.
2.To Learn about various Digital Platforms available for Financial advising on Individual level.
HYPOTHESIS – 1
Null Hypothesis- There is no significant impact in the business of Individual Financial Advisors with Inclusion of
Digital Platforms.
Alternate Hypothesis- There is a significant impact in the business of Individual Financial Advisors with Inclusion
of Digital Platforms.
HYPOTHESIS – 2
Null Hypothesis-There is no Significant impact on Ease of Doing Business with inclusion of Digital Platforms.
Alternate Hypothesis- There is a Significant impact on Ease of Doing Business with inclusion of Digital Platforms.
RESEARCH METHODOLOGY: -
A Primary data was collected, a structured questionnaire was sent for data collection to various IFA’s (633 mail, what’s
App message’s, were forwarded out of which 152 respondents filled the questionnaire). The data was collected on
questionnaire survey method. The secondary data was collected from various research journals, articles blog’s and etc.
RESEARCH & SAMPLE DESIGN: -
The research design was a combination of both descriptive as well as exploratory. Convenient sampling was used on the
data.
STATISTICAL TOOL: -
SPSS was used as the software for the analysis part. Cronbach’s Alpha, co- relation, Regression analysis, chi-square test
were among the statistical tools used for testing the Hypothesis
.
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Data Analysis, Interpretation and Hypothesis Testing
DATA ANALYSIS
Reliability Test: -
Cronbach Alpha: -
Table 1:- Cronbach Alpha / Case Summary
Table 2:- Cronbach Alpha / Reliability Statistics
As shown in the above table the value of Cronbach’s Alpha in coming .881 the reliability of data is
very good and we can proceed to conduct further analysis.
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Validity Test: -
Table 3:- Validity Test
Validity of data of data is good we can further conduct the test on the Hypothesis. To identify
whether the questionnaire was valid or not, it can be done by observing the value of significance
(p ≤ 0.05).
HYPOTHESIS – 1
Null Hypothesis: - There is no significant impact in the business of Individual Financial Advisors
with Inclusion of Digital Platforms.
Alternate Hypothesis: - There is a significant impact in the business of Individual Financial
Advisors with Inclusion of Digital Platforms.
Test Conducted – Regression (Linear Regression)
Dependent Variable – Business of Individual Financial Advisor
Independent Variable – Increase in Revenue after providing service via Digital Platform, Better
service Delivery via Digital Platform, Better client Establishment and client Retention via Digital
Platform.
To Test the First Hypothesis, i.e. (Null hypothesis) - There is no significant impact in the business
of Individual Financial Advisors with Inclusion of Digital Platforms.
To understand the impact of digital platform on the business if IFA’s. related to Elevating the business of IFA, Increase
in Revenue after providing service via Digital Platform, Better service Delivery via Digital Platform, Better client
Establishment and client Retention via Digital Platform. Regression Analysis along with Frequency analysis was applied
to the variable to test the hypothesis. In the test sig value came .000 which was less than the p- value .050 on the basis
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of this Alternate Hypothesis was accepted on the basis of result i.e. There is a significant impact in the business
of Individual Financial Advisors with Inclusion of Digital Platforms.
Table 4:- Regression / Model Summary
Interpretation: -
From the above table, we observe that R square value is .447 i.e. 44.7% of variance in the independent
variable i.e. over all difference in business of IFA’s.
Table 5:- Regression / Anova Table
Interpretation: -
From the above table, Sig value is .000 i.e. less than 0.50. Therefore, we reject the null hypothesis and accept the alternate
hypothesis i.e. There is a significant difference in business of Individual Financial Advisors with
Inclusion of Digital Platforms.
Table 6:- Regression / Coefficients Table
Interpretation: - Above table is showing the coefficients value of each and every variable put through
the test.
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Frequency Analysis: -
Table 7:- Frequency Table / Elevate IFA's Business via Digital Platforms
Figure 1:- Frequency Bar Chart/ Elevate IFA's Business via Digital Platform
INTERPRETATION: - A direct question was asked to the Respondents, Does Digital platform have helped you
to elevate your business? Out of 152 respondents, 94 respondents gave answer Agree and Strongly Agree i.e. almost 61
% Respondents.
On the Basis of this analysis and Interpretation of the following Hypothesis. We have accepted the Alternate
Hypothesis i.e. There is a significant impact in the business of Individual Financial Advisors with Inclusion of
Digital Platforms.
HYPOTHESIS – 2
Null Hypothesis: There is no Significant impact on Ease of Doing Business with inclusion of
Digital Platforms.
Alternate Hypothesis: There is a Significant impact on Ease of Doing Business with inclusion of
Digital Platforms.
Test Conducted – Correlation and Cross Tab (chi square)
Variables – Better service Delivery to Clients via Digital Platforms, Better client Establishment.
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To Test the Second Hypothesis, i.e. (Null hypothesis)- There is no Significant impact on Ease of
Doing Business with inclusion of Digital Platforms.
Two question were asked which were quite direct with reference to the Hypothesis. Which were related to Ease of
Doing Business these were Better Service delivery and Better Client Establishment and whether these Digital platforms
help them to Maintain Their client. Correlation and chi- Square test was applied to test the Hypothesis in which it was
observed that both the variable have a strong correlation between them and chi- square test suggested that they are quite
valid. With sig. value coming .000, on the basis of results obtained we accepted the Alternate Hypothesis i.e. There is
a Significant impact on Ease of Doing Business with inclusion of Digital Platforms.
CO-Relation Test: -
Table 8:- CO-Relation/ Descriptive Statistics
Table 9:- Co-relation Table/ Second Hypothesis
Interpretation: -
As observed in the above table Significance value is .000 i.e. less than the rate .01 on the basis of this we can say there
is a relationship between the two factors.
Cross Tab (Chi Square)
Table 10:- Cross Tab/ Chi Square / Second Hypothesis
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Table 11:- Cross Tab / Descriptive Table / Second Hypothesis
Table 12:- Cross Tab / Chi Square Test Table
As seen in the above table chi- Square value is .000 i.e. less than .050 on the basis of that we can Accept the Alternate
Hypothesis. And Reject the Null Hypothesis. There is a Significant impact on Ease of Doing Business with
inclusion of Digital Platforms.
Frequency Analysis: -
Table 13:- Frequency Analysis/ Frequency Table/ Second Hypothesis
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Figure 2:- Frequency Bar Chart/ Second Hypothesis
Table 14:- Frequency Analysis/ Frequency Table/ Second Hypothesis (2)
Figure 3:- Frequency Bar Chart / Second Hypothesis (2)
Interpretation: As shown in the Frequency Analysis two Different questions were asked keeping in mind the
hypothesis which focused on Ease of doing business, Does Digital Platform help you deliver services that you offer in
a better way?
In which out of 152 respondents, 110 respondents Agreed and Strongly Agreed to the question, i.e. almost 71.4%. Do
you think, Digital Platforms have helped you to establish and maintain client? In which out of 152 respondents, 102
respondents Agreed and Strongly Agreed to the proposition which is almost 66.3%. on the basis of this we can accept
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the Alternate Hypothesis and reject the Null Hypothesis. i.e. There is a Significant impact on Ease
of Doing Business with inclusion of Digital Platforms.
The SECONDARY OBJECTIVE: -
To Learn about various Digital Platforms available for Financial advising on Individual level.
Various Financial Advising Firms and Wealth Management Firms offers specialized Financial Advising Apps (Digital
Platforms) apart from doing their Business on Platforms such as Google, And Social Media Platforms. To be more
precise about the objective Wealth management Firms Such as Edelweiss, provide a digital platform called Edelweiss
Partners, Anand Rathi Wealth management Firm has Application called Anand Rathi Wealth, apart from this Companies
Such as Motilal Oswal has an app called Motilal Oswal AMC. These all apps are available on Play store for Individual
Financial Advisors to access and use this platform for their Business Purposes. India’s Biggest Asset Management Firm,
NJ Wealth also has their own app which is available on play store for IFA’s. Various Digital platform’s such as
Morningstar Office, Money Guide Pro, EMoney Advisor emX Pro, and other’s life has become very easy for individual
financial advisors. These digital platforms not only reduces the stress level of a financial advisors but also helps them
to organize their work more efficiently and effectively. As most of the work are done automatically Financial advisors
can now devote more time on planning aspects and can cater to the clients need in a better way, this has not only helped
them to reduce their cost but has also helped them in increasing their reach into the market and has helped them elevating
their business.
Results and Discussions – Findings, Conclusion and Recommendations
KEY FINDINGS: -
1. Platforms Used for Business Purpose: - Out of 152 respondents 59.1% of the IFA’s were registered on
Google, the majority of the respondents said that they use Google as a digital Platform for their Business Purpose.
Not only that, 48.7% IFA’s also choose Specialized Financial Advising Apps, as their preferred digital
platform for business purpose.
2. Factors for Choosing this Digital Platforms: - Five different factors, Convenience, Mobility, Better Client
Handling, Better Management, Easily Accessible. Which was scaled on the parameter of Very Important to
Not Important. Out of 152 respondents, where Convenience got 103 votes, Mobility- 65, Better client
Handling- 91, Better Management- 89 and Easily Accessible- 96. This said, this confirmed that these factor
does lead an IFA to choose a digital platform for his or her Business.
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3. Elevate the Business of IFA’s: - A direct question was asked to the respondents whether Digital platforms have
helped them to Elevate their Business. Out of 152 respondents, 94 respondents gave answer Agree and
Strongly Agree i.e. almost 61 % Respondents. On the basis of this results we can say that the Inclusion of
Digital platforms have helped them to increase their business and has made a significant difference in the
business of IFA with Inclusion of Digital platforms.
Figure 4:- Elevate your Business Via Digital Platform
4. Better Engagement via Digital Platforms: - Components such as better Engagement was also studied in the
research paper. Respondents were asked whether Digital platforms helps them to engage in better way with their
clients. The question was asked on a Likert scale, on scale of Strongly Disagree to Strongly Agree. Out of 152
respondents 112 respondents Agreed and Strongly Agreed to the question with 73.7% cumulative.
5. Avg. Conversion rate of Client who comes through these Digital Platforms: - Respondents were asked about
an important aspect i.e. the avg conversion rate of clients, that These digital platforms provide, out of 152
respondents 105 respondents said that the avg. conversion lies between 30-70 %. Considering this we can
say that the digital platforms has made a significant difference in the business of IFA’s. higher conversion rates
certainly leads to more business. Which has come with the Inclusion of Digital platforms.
Figure 5:- Avg. Conversion Rate of Clients Via Digital Platforms
6. Digital Platforms will help gain more Business in Future: - IFA’s were also asked about their Perspective
towards these Digital Platforms whether this Digital Platforms will help them to gain more business in the future.
Out of 152 respondents, 118 said that “Yes” they strongly agree that these Digital platforms will help them
gain more business in the Future. I.e. almost 77% of Total Respondents.
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7. Better Service to client via Digital Platforms: - Respondents were asked, Does Digital Platforms help you
deliver service that you offer in a better way? Out of 152 Respondents 109 respondents agreed and strongly
agreed to the proposition given to then i.e. almost a cumulative of 71.7%. this question was also considered
to test the second hypothesis related to Ease of Doing Business.
Figure 6:- Better Service Delivery Via Digital Platforms
8. Better Client Establishment and Maintaining Clients: - Respondents were asked, Do you think, Digital
platforms helped you to establish and maintain clients? Out of 152 respondents 101 agreed and strongly
agreed to the proposition, i.e. almost 66.4 % as a cumulative.
Figure 7:- Better client Establishment and Maintaining Clients via Digital Platforms
9. Improved Revenue via Digital platform: - Respondents were asked about the Revenue aspect also this variable
was used to test the first Hypothesis which was associated with Significant Difference in Business of IFA with
Inclusion Of Digital Platforms, out of 152 Respondents 97 respondents Agreed and Strongly agreed to the
proposition, which totals to an impressive cumulative of 63.8 %. IFA’s agreed on the point that Digital
Platforms have Increased their revenue (in terms of Commission).
Figure 8:- Increase In Revenue Via Digital Platforms
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10. Traditional and Orthodox clients and their perspective toward Digital Platforms:- IFA’s were asked about
the perspective of Traditional and Orthodox Clients that they cater to, out of 152 respondents 109 respondents
said yes, the Traditional Clients and the Orthodox Clients show Resistance in use of Digital Platforms.
However, 43 IFA’s said they don’t face any problems with the concern objective. That is almost 28.9 percent.
11. Recommend Use of Digital Platforms to fellow IFA’s: - Respondents were asked whether they would suggest
their fellow IFA’s to use Digital platforms, to which 110 respondents said, “Yes” they would recommend the
use of Digital platforms to their fellow IFA’s. that is almost 72.4% of total Respondents.
12. Future of Digital Platforms in Financial Advising Services: - Respondents were asked that whether these
Digital platforms have a Future in Financial Advising Services to that out of 152 Respondents, impressive 109
respondents said “yes” which accumulated to almost 84.9 %.
DISCUSSION: -
Digital Platforms have helped Individual Financial Advisors to improve and Increase their business, after conducting
the Research on Study on Role of Digital Platforms in Elevating the Business of Individual Financial Advisor (IFA’s).
it was quite evident that Digital Platforms have played a very significant role in the life of IFA’s. this study helped us to
understand the factors that leads an IFA to go for a digital platform for their Business purpose, five important factors
came as evident which were, Convenience, Mobility, Better Client Handling, Better Management, Easily
Accessible. It was also found in the study that IFA’s extensively use Google, Social Media Platforms and Specialized
Financial Advising apps in their Business as considering Digital Platforms. It was also found that digital platforms have
helped IFA’s to elevate their business with its Inclusion, not only that with the Inclusion of Digital platforms, there
has been a significant difference in the business of IFA’s be it with Better Client Engagement via Digital Platform
or Avg. conversion rate of clients who comes through this Digital platforms. Digital Platforms also brings in Ease
of Doing Business while testing the second hypothesis concerned with Ease of Doing Business it was found that Digital
Platforms have helped IFA’s providing better services through this, digital platforms not only this Digital
Platforms have also helped IFA’s to establish new clients as well as maintaining those clients for good. This,
aspects helped us to comprehend the Ease of doing business part, coming to the other part of the study it was also
observed that IFA’s agreed to the point that Digital Platforms will help them to bring more business in the coming future,
Experience as an IFA and Avg. conversion rate of clients was tested to understand the third hypothesis. It was also
found out in the study that digital platforms has helped IFA’s to generate more revenue in terms of commission
after providing their services through Digital platform, Study also helped us to find out different Digital platforms
available to the IFA’s for their Business purpose (Secondary Research). It was also found out and observed that more
than 70% of IFA’s says that Traditional And Orthodox Clients shows resistance while using Digital platforms, it
was also found that more that 70% IFA’s were in favor of Digital platforms as they believed that it will help them gain
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more business in the coming future and Digital platforms have a very strong future in the Financial Advising
Services.
LIMITATIONS: -
The findings of this research have seen some, limitation. This study was conducted with a time constraint. The data is
collected from various IFA and their view point’s cannot be matched with the whole population of IFA’s viewpoint
regarding the subject can differ from respondent to respondent. i.e. the data does not claim to be the overall
representation of the population. As the research was conducted during COVID-19, there was no personal interaction
with IFA’s, for better understating of their viewpoints.
RECOMMENDATIONS: -
It is recommended that IFA’s should use digital Platforms as much as they can as it helps and provide better
business opportunity.
It is recommended that IFA’s should help understand the benefits that digital platform provides in ease of doing
business to traditional and Orthodox Clients as they show resistance in using these Digital platforms.
It is recommended that IFA’s should try to create favorable picture in the minds of these Traditional and
Orthodox clients with respect to these Digital platforms.
It is recommended that Providers of these Digital platforms should also consider this resistance as opportunity
to improve their interface and problems related to the subject.
It is recommended that as the technology is ever evolving they should keep an eye on the horizon for continuous
development and upgrades available to them.
CONCLUSION: - The study will help us to understand the impact that digital platforms have brought to the business of IFA’s. study will
be beneficial for IFA’s at the same time for the Digital Platforms that provide such platforms for IFA’s for business
purpose. As pointed out in the recommendation part the study will help IFA’s and Digital Platform Providers to do
introspection with reference to Traditional and Orthodox Clients.
FUTURE SCOPE: - Change is Inevitable, and it goes for Financial Advisors as well, one step above the digital platforms are Robo- Advisors,
these Robo- advisors, are much more equipped to analyze and in giving solution to clients who are in need of Financial
Advising the only thing that the lack is the human touch and a sense of assurance that a IFA gives, the Future of this
research might be in the field of Robo- advisors and how they are slowly but gradually taking over the digital platforms
and business opportunities available to the IFA’s currently.
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