Robo financial advisers are accelerating

Robo-advice

The race to provide robo-advice is accelerating. Fund managers, banks, brokers and financial advisers are all adapting their business models to fend off the competitive threat of automated online investment services. Although still a fledgling industry, robo-advice has rapidly become a priority for some of the world’s largest asset managers. They recognise the potential for low-cost online advice to attract new audiences, particularly the young… BlackRock, the world’s largest fund manager, bought FutureAdvisor, the US robo-adviser, in August… Big questions remain over how human advisers will adapt to the growth of robo-advice services. Critics argue robo-advisers cannot provide the sophisticated, in-depth advice required by investors with large portfolios or complex investment goals.

 

Chris Flood

Food4Brains

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