The rise of robo-advice in financial services over the last decade has understandably coincided with the unceasing march of technology.

There is no doubt that technology continues to transform every facet of our lives – and the financial sector is no different.

Nowadays, if you so wish, you can become an investor with just a few taps on your smart phone. It seems to be that more and more robo-advice and robo-investing services are being launched every week.

Those pushing the benefits of robo-advice say it is:

• for everyone
• easy to use
• affordable

Yet there are some things robo-advice simply cannot offer you, despite the technical sophistication. Certainly when it comes to financial planning.

And the biggest one of all is that crucial human touch. There is simply no substitute for it in a lot of cases.

A robo-adviser can only go on the data and information it receives. But what if a customer is confused about what they really want, or cannot understand some financial jargon and need help and a clear explanation? Robo-advisors typically cannot sense when a client or customer is unable to answer the questions posed because they are unsure of what answer to give.

Yes, robo-advisers can create some sort of personalised plan, or portfolio, but personalised advice? Personalised financial planning? That is a different kettle of fish altogether!

There are some aspects of financial planning that only humans can do. Like listening to a customer and client! Making sure their hopes, dreams, fears and ambitions are taken into account and are indeed central to their plan.

Robo-advisors also lack the ability to deliver financial planning that truly brings together a lot of key elements, such as estate planning, tax planning, retirement planning, insurance needs, general budgeting and savings goals. While there are computer programmes that can provide financial planning, they generally still require data entry from a finance professional who understands exactly how to input the numbers so that the programme can make the necessary calculations to produce an accurate plan.

Here at Lifetime we believe a combination of technology and that important human touch can provide a client with the winning formula.

We can match the robo-advice claim of being:

• for everyone
• easy to use
• affordable

One of our core values is ‘Innovation’, As such we have put time and resources into establishing a dynamic, online service that offers a pathway for clients to take control of their finances and make better informed money choices.

Our secure online portal gives us the platform to deliver your own bespoke financial plan in a video format, albeit with the key personal, human touch provided by our highly dedicated customer coaches.

They will help you every step of the way.

Start your journey with our coaches today. You won’t regret it.