'Uberization Anxiety' Fraying Clients' Bonds With Advisors

‘Uberization Anxiety’ Fraying Clients’ Bonds With Advisors

“Uberization anxiety syndrome” is the concern that, as consumers get used to having their needs met digitally as soon as they realize they have a need, financial professionals’ traditionally relationship-based business will suffer. Simeon Hernandez, head of retirement business development of Global Atlantic and head of the firm’s innovation lab, referred to a paper from Hewlett Packard that identified four things traditional businesses need to do to address digital disruption in their industries: educate yourself, foster innovation, reimagine the status quo and establish a resilient platform. For the financial services industry, that means advisors have to stay on top of technology, “especially as we look at who we’re trying to do business with to see if they’re looking at things in a different way than we are,” Hernandez said at…


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