Nearly four in ten Financial Planning professionals could be entering the robo-adviser market in the next 12 months, Financial Planning Today’s research suggests.

In a reader survey for the launch of the new Financial Planning Today magazine, some 38% said they’ve either already set up a robo-service, will definitely launch or they will investigate the possibility of doing so. Some 62% said they have no interest in it.

See below for how to access the new magazine to read this article in full.

The move towards more automated services has been boosted this year after the authors of the Financial Advice Market Review instructed the FCA to help firms bring large-scale automated advice models to market more rapidly. Its report stated that technology could help create “a more engaging, cost-effective advice market”.

Many advisers and planners have been making moves into the robo area over the last two years, including Chartered Financial Planner Keith Churchouse.

Regarding the survey result, he said: “The 38% is of note because they realise that, in part, online only propositions, in whatever format and delivery these are used (example video-conference) may work and no one has the answer yet. The public will decide, but you have to be in the market to gain traction.”

He said: “I believe that there is, and always will be, space for both traditional and online/automated advice solutions. I think the main point here is market share of both.

“Ignoring the alternative solution from both sides is short-sighted, and if a D2C online only offering is not for the 62% indicated (in the FP Today survey), then make sure their current proposition is up to date, modern and easily accessible.”

To find out more about the survey and other planners' views on the future of automated advice, including commentary from PFS Chief Executive Keith Richards, read the new digital Financial Planning Today magazine.

To receive the £6 magazine free of charge you must be a subscriber to our free daily website newsletters. If you are not already a subscriber and would like to see the launch issue of the new magazine please subscribe now below.

Financial Planning Today is a new 40-page digital sister magazine to this website

The new editorially-independent digital magazine has exclusive content produced by a team of experienced financial journalists in London.

Other editorial highlights in the launch issue include:

• Exclusive new features including Inside My Business, Planner Casebook and more
• Business growth tips and advice
• Paraplanning news and comment
• Comment and columns from leading planners and other leading figures in the profession plus an exclusive article from former Pensions Minister Baroness Ros Altmann

The magazine is being launched by Portfolio Publishing, publishers of Financial Planning Today and Sipps Professional websites, both of which offer daily news to thousands of professional financial advisers.

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