SIGNIFICANCE OF FACE-TO-FACE MEETINGS IN DIGITAL WORLD
Since its inception, technology has assumed a vital role in our daily life. Same thing with the financial industry. Such advancements have made it easier for financial advisors to interact with clients through portals or reminders.
Life is simple yet problems are complicated. Financial advisors are attempting to thread the boundary between the two. For instance, there is an emergency savings account which automatically sets aside a certain amount of money daily, weekly, or monthly. This account can be used to save up for significant expenses in the future or prepare for the rainy days.
In the case of millennials, young professionals want to accomplish everything in one go. They feel pressured by face-to-face sessions with advisors; hence, their desire to online financial services. Of course in-person meetings are more costly. More often than not, the rates overshoot.
Then there is automated services for clients who hold considerable levels of assets. Aside from robo advisors, live meetings are done via phone with licensed advisors, who cater to all sorts of financial concerns or difficulties.
But nothing beats the beauty and realness of in-person sessions. Here’s why.
While it is possible to automate almost all processes to achieve financial objectives, it still pays to go through each item or goal with your advisor. You need to monitor those as well. And most importantly, work on your budget and spending. In simplest terms, live within your means.
Face-to-face communication is the main element of the relationship between an advisor and a client. Technology will fail to replicate its authenticity. Always. One of the reasons people turn to these professionals is that they want someone who can help them solve the financial riddle on a personal level. Video calls, however, can only mimic certain parts of an in-person meeting. It can never assure accountability and trust which we get from personal meetings with financial advisors.
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