There is no denying that robo-advisors have many benefits: they're convenient, effortless and economical. They operate with little or no human intervention, and they typically cost less than traditional advisory services. However, according to a survey conducted by Hartford Funds, investors aren't ready to rely solely on robo-advisors.
The smartest, most successful, highly effective people understand how to distinguish and separate that which is critically important (and in their control) from that which ultimately won't make a critical difference -- or, is outside of their circle of competence and control. It's an important distinction.
If you become the type of man (in financial services) who can say emotional intelligence without laughing, listening to what clients (and people) are telling you, helping them to separate the signal from the noise, you also can be a man who can think like a woman - someone who is the new fresh-faced voice of Wall Street.
Not only will these millennial inheritors likely look for a new financial advisor to manage their money, as opposed to sticking with the family advisor, they will also want to ensure their money positively impacts society, and they tend to crave intimate involvement with the causes they support. This could transform charitable giving.