Inflation

With any loan or investment process, such as buying a car or opening a 401(k) for retirement, investors are going to hear about interest rates in regards to the money they are spending. An interest rate is best thought of as the cost of borrowing money, or conversely, the compensation one party receives for the service and risk of lending money to another party.

Financial advisors may occupy an industry that still relies on tried-and-true techniques to grow investment accounts for clients, but that doesn't mean the industry is immune to the technological advancement that has redefined other sectors of the economy.