7 Key Advantages of Choosing a Human Financial Adviser Over a Robo-Adviser

When deciding between a human financial adviser and a robo-adviser, understanding the unique value each brings to the table is crucial. While robo-advisers offer affordability and convenience, human financial advisers provide personalized guidance that technology alone cannot replicate. Below are seven key advantages that highlight why a human adviser may be the better choice for your financial goals.

1. Personalized Financial Planning

Human advisers take the time to understand your unique circumstances, goals, and values. Unlike algorithms, they deliver tailored strategies that adapt to your changing life situations, such as career transitions or unexpected financial challenges.

2. Holistic Wealth Management

While robo-advisers focus primarily on investment management, human advisers provide comprehensive wealth management services. This includes tax planning, estate planning, and retirement strategies, allowing your entire financial picture to be considered.

3. Adaptability Through Life Changes

Human advisers excel at helping clients navigate complex life events, from starting a family to managing inheritances. Robo-advisers, in contrast, can’t offer the same level of nuanced, real-time advice tailored to emotionally or financially sensitive situations.

4. Building Trust and Long-Term Relationships

A human adviser builds a relationship based on trust and understanding. Over time, they gain deep insight into your priorities, enabling them to provide personalized guidance even as your needs evolve. Robo-advisers cannot replicate this human touch.

5. Proactive Guidance During Uncertainty

During volatile markets or economic downturns, human advisers can provide reassurance and adjust your strategy to keep you on track. Robo-advisers rely on preprogrammed algorithms that fail to account for emotions or provide customized reassessments in real time.

6. Adherence to the Fiduciary Standard

Many human advisers have a fiduciary duty, obligating them to place your interests ahead of theirs or those of their firm. Robo-advisers follow the suitability standard, which requires recommendations to be appropriate based on your situation and goals. The difference comes down to competing interests: a fiduciary is required to give priority to your interests over potential competing interests whereas an individual or entity following the suitability standard may not necessarily prioritize your interests when competing interests exist.

7. Expert Insight and Professional Experience

Human financial advisers offer years of training, industry knowledge, and firsthand experience. While robo-advisers are powered by data, they can miss the nuanced thinking and creativity that only an experienced professional can deliver.

Ultimately, both options have their roles depending on individual needs, but the strategic, responsive care provided by human advisers sets them apart. When managing your wealth, a human-driven approach can make all the difference when carefully aligning your path with your unique goals.

Redefining Philanthropy in the Age of the Great Wealth Transfer

Charitable giving has the potential to drive meaningful change, foster strong communities and generate social impact. As the world witnesses a massive generational shift in wealth, known as the "Great Wealth Transfer," this potential feels more catalytic than ever. Over the next 25 years, trillions of dollars are expected to pass into the hands of younger generations, particularly millennials and Gen Z, profoundly transforming the landscape of philanthropy.