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Planning series: women shun financial advisers in favour of money advice from robots - why?

When you are planning the year ahead, keeping an eye on new trends may provide you with insights. At first, I thought I would write about advice automation when I read this article from the Sydney Morning Herald, but then I realised there may be a different angle. The article states that women are more likely to invest through robo-advisers than men.

'Six Park reveals that accounts held solely by women have more than doubled in recent months to sit at 40 per cent, up from 20 per cent in January. The firm delivers financial advice online using algorithms and technology in place of a human financial adviser.' Click here to read more. 

It is fascinating, it felt to me that the issues of convenience would apply equally to men as to women - so there must be some other reason why women seem to take up robo-advice offers more than men. Maybe it is a reflection of the old-school, male dominated industry image. Of course, I might be wrong, this is probably insufficient data, but perhaps there is a business case for diversity. Which brings us back to planning. You might be able to figure this out on your own, but maybe you need some fresh perspectives. Bear in mind, if your next hire is just like all the other people you have ever hired, they aren't likely to take you to new places.

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