You may have noticed that Artificial Intelligence (not a euphemism for certain politicians ha ha) has been in the much in the news, and most sci-fi movies you’re likely to see. It’s also been making many a tech billionaire still richer, even before they’ve built any that works. The gist of most of what we’re hearing is that it could save us, and/or that most of those sci-fis might come true and it could take over the world and make us superfluous. The FCA are obviously thinking along the same lines. Those little robots with whom you have to chat on a website before you get to talk to an actual person might be the ones to give ‘straightforward’ advice if you can’t or won’t afford an adviser in the Great Future to Come. Thing is, if you’re anything like me, you make sure you give the answers that get you through to that actual person sooner rather than later. Which sort of defeats the object, I know; but I don’ think I’m the only one.
This is a subject often rehearsed in our business. Paying for financial advice, let alone being able or willing to save for a far-off retirement, are rarely likely to be priorities for under-40s.