Best of Both Worlds: Blending Technology and Human Advice for a Better Financial Life

With technology touching virtually every aspect of our lives, it can be easy to lose sight of the critical role that person-to-person relationships and human expertise continue to play in certain key areas — and in our financial lives in particular.

As tempting as it may be to default to the many tech tools available today to manage our money, and as useful as many of those tools can be in helping us to get a better handle on our finances, there remains a strong role for person-to-person professional guidance and the human element in our financial lives. Indeed, the best financial outcomes for people oftentimes are the result of them blending financial technology — algorithm-driven automated investment platforms (AKA “robo advisors”), apps, online calculators, automated banking tools, software, etc. — with advice from a trusted and skilled financial professional.

Investors appear to see merit to the “best of both worlds” approach. Among the key findings from a survey of more than 2,000 investors conducted jointly by the Financial Planning Association® (FPA®) and Investopedia in 2016 include:
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