Why Read This
With mediocre investment returns, falling state pensions, baffling financial products, and worries about retirement, consumers need financial advice now as much as ever. But the current distribution model based on costly in-person advice is broken. Financial firms can't provide personal advice to everyone profitably, few customers want to pay for it, and many customers don't even trust financial advisors. Only 27% of Europeans and Americans say that they rely on expert advice today. Financial services eBusiness executives can solve this conundrum by going beyond basic tools like savings calculators and product selectors to provide richer online advice tools that engage, educate, and empower.