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New Cerulli study shows 'absolutely surprising' finding: Human advisors have drubbed the self-directed investing sector despite radical advances in DIY tools

The Cerulli findings have a caveat for humans -- that just-in-time advice to investors whose assets grow to $500,000 may be too late to win the account

Author Brooke Southall December 1, 2023 at 2:15 AM
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Scott Smith: In reality, with so many online options people just don’t even know where to start.
Keith Girard contributed to the editing of this article.

Scott Smith

Stephen Chen

Stephen Chen

December 2, 2023 — 1:23 AM
Agreed that interest in planning is growing - we're seeing record registration and upgrades around on our platform which supports mainly DIY & Validators (we get some Delegators)
Brian Murphy

Brian Murphy

December 2, 2023 — 10:42 PM
As of this writing, the products available to the DIY crowd are incomplete at best. In short, there are a ton of shitty services targeting individual investors. Wealthfront & Betterment as first in class of the robo-advisors serve only a small fraction of the DIY investors needs - what about 401(k) assets, mortgages, long-term care, etc. down to the specific products to be purchased? Because all of these items aren't built in, the natural DIY crowd doesn't have much choice for holistic advice...at scale.
Stephen Chen

Stephen Chen

December 3, 2023 — 12:44 AM
Hi Brian - we've had > 300,000 people build their own financial plan on our site - we cover things like: 1) Liquid assets - taxable, tax deferred and tax exempt 2) Housing - primary and investment/secondary and related transactions 3) Healthcare - while working, post work / pre Medicare and then Medicare (or alternatives Tri-care) 4) Lifetime income - Social Security, Pensions and Annuities 5) Expenses - budgeting 6) Debt 7) Estate planning 8) Drawdowns and tax efficiency etc Anyway - if you try it - would love your feedback. https://www.newretirement.com/


December 11, 2023 — 6:58 AM
The study underscores a clear message: human advisors are irreplaceable! In an era where technology is ubiquitous, the nuanced understanding, empathetic communication, and personal touch that advisors provide cannot be replicated by algorithms or self-directed platforms. At AdvisorFinder, we have always believed that personal finance is just that—personal.

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February 28, 2024 at 3:36 AM

The classic RIA era is sputtering and firms must 'decentralize,' hiring non-advisors to specialize, new Cerulli report shows, or RIAs will 'limp along,' a second consultant says

RIA principals have killed Wall Street with semi-solo shops -- only 35% have 'specialized staff' -- but the comfort zone must evolve for growth

January 13, 2024 at 2:24 AM

Mentioned in this article:

Cerulli Associates
Consulting Firm
Top Executive: Kurt Cerulli

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