Wells Fargo Advisors Head: Technology Shouldn't Change Adviser Work With Clients

   By Maria Armental 
 

NAPLES, Fla.--Technology is disrupting how financial advisers work, but not what they do or how they do it, said David J. Kowach, president and head of Wells Fargo Advisors.

Speaking at the Securities Industry and Financial Markets Association's private client conference, Mr. Kowach urged a roomful of colleagues to "look at ourselves not as a sales professional but the same way you look at a medical professional."

He recommends that advisers think of the next generation--both advisers and clients--and to focus on the job: the relationship, preparing and guiding clients through life.

Mr. Kowach pulled out a printout of a Jan. 24 email, reading through a typical question from a client, all business, until he reached the end. As a postscript, the client thanked him for the advice so many years ago to plan for college when his kids were only an idea, a Baby 1 and Baby 2 on a report.

Innovation, he said, needs to happen faster.

"Let's be open to what change can do for our clients, not what it can do to us," he said.

Write to Maria Armental at [e-mail]

(END) Dow Jones Newswires

April 13, 2018 11:23 ET (15:23 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.