The Future of Financial Advice is "Phygital" - Here's Why It Matters
Dr. Joe Coughlin
Translating global demographic, social & technology insights into business strategy
Are you ready to get phygital?
Look around—phygital experiences are already transforming how we live. "Phygital" is the seamless integration of physical and digital interactions to create a more complete, engaging customer experience. Retailers blend online shopping with in-store pickup and personalized service. Real estate agents combine virtual tours with intimate home walkthroughs. Car dealerships now offer digital configurators and remote paperwork, while maintaining that crucial test drive experience. The most successful businesses aren't choosing between digital and physical—they're mastering both.
Our MIT AgeLab research reveals a powerful truth: while digital tools are revolutionizing financial services, the human touch remains irreplaceable. Through our global PLAN Preparing for Longevity Advisory Network research, we've discovered that personal interaction isn't just preferred—it's premium. To join and participate in PLAN, click here (https://agelab.mit.edu/retirement-and-longevity-planning/projects/preparing-for-longevity-advisory-network/)
But here's the key insight: it's not about choosing between digital and personal. The most successful advisors are mastering the "phygital" approach—thoughtfully blending high-tech capabilities with high-touch service. Let the algorithms crunch numbers while you focus on what truly matters: guiding meaningful conversations about preparing for longer, better lives.
Modern longevity planning transcends mere money management. True 'wealth' management includes comprehensive, agenda-setting conversations about living well at every life stage. It's about helping clients navigate the complexities of extended lifespans, and that requires both digital efficiency and informed human empathy.
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Want to learn more about phygital transformation in financial services and longevity planning? Click here to read my latest article in Financial Advisor Magazine to discover actionable insights for elevating your practice in today's longevity economy.
What do you think about the future of advice being phygital? Share your thoughts below.
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President at Bank of America Private Bank
1 周High-tech, high-touch has been a guiding principle for our teams for several years now.
Managing Member | Advisor at Courage Korving Miller Partners
3 周I couldn't agree more. Tools are helpful and provide great information, but the personal connection through discussions and planning is difficult to replace.
Financial Advisor @ Atrium Financial Associates, LLC | Retirement Income Strategies
3 周agree.
Assistant Vice President, Corporate Marketing | Business Metrics, Marketing Analytics
4 周Always interesting to see what you are working on Dr. Joe Coughlin.
Fractional CPO, Coach, and Strategic Advisor in B2B SaaS, B2B2C & AgeTech ?? I help companies turn their product strategy into an outcomes engine
4 周John Clinton FYI