SC: Financial planners need to embrace technology

"Robo-advisory services can be complementary tools to financial planners to get more people to start investing early, and subsequently planners can deliver more personalised services," says Awang Adek.

PETALING JAYA: Financial planners need to embrace technology to better serve their clients, as digital tools can enhance the effectiveness and efficiency of their services, as well as increase their appeal to more technology-savvy investors such as the younger generation.

Citing an example, Securities Commission chairman Datuk Seri Dr Awang Adek Hussin said according to a survey by the Institute of Capital Market Research, millennials and Gen Zs are more inclined to use robo-advisory services, but as their portfolio grows, they would prefer to interact with a human adviser.