Virtual financial planners

Product, market, and challenges

Authors

  • Emery A. Trahan Northeastem University, D'Amore-McKim School of Business, Finance and Insurance Group
  • Lawrence J. Gitman San Diego State University
  • Michael D. Trevino GT Finance

DOI:

https://doi.org/10.61190/fsr.v21i2.4667

Keywords:

Virtual financial planning, Online financial planning, Financial planning

Abstract

In today's complex financial and economic environment, individuals are exhibiting an increasing need for personal financial services. The current environment may turn some clients who use a financial planner into do-it-yourself consumers. In this article, we provide an analysis of online financial planning industry trends. We examine the demographic profile of the target market for online financial planning software and determine the target market's perceptions, needs, and motivations regarding financial planning services. Our results suggest that there is a potential market for virtual financial planning tools. Acceptance of these tools will depend on pricing, provider reputation, and features. These results should be helpful to individuals seeking new forms of delivery for compre­hensive personal financial planning services and to professionals interested in providing these services in a changing marketplace.

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Published

2012-06-30

How to Cite

Trahan, E. A., Gitman, L. J., & Trevino, M. D. (2012). Virtual financial planners: Product, market, and challenges. Financial Services Review, 21(2), 95–129. https://doi.org/10.61190/fsr.v21i2.4667

Issue

Vol. 21 No. 2 (2012): FSR Summer 2012

Section

New Original Submission

License

Copyright (c) 2012 Academy of Financial Services

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