The new alliance will enable the Network’s advisors to offer investment-related services to clients without excessively burdening the advisors.
XY Planning Network co-founder and financial planner Alan Moore was quoted by WealthManagement. com as saying, "Financial planning is a very inefficient process because it’s very time-intensive, very service-heavy."
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"There’s a reason a lot of advisors cap out at 75 to 100 clients because they just can’t serve any more than that given the client-facing activities as well as the back office," Moore told the publication.
He further explains that online platforms such as Betterment and Wealthfront completes the investment management, thereby allowing advisors to reduce their time spending on rebalancing portfolios and researching mutual funds.
Moore believes that financial advisors will have to find ways to embrace the robo-advisor platforms, partner with them, as it would groom the ideal future clients for them.
