The robo advisor
industry originated in the wake of the Great Recession. A few firms developed
this service to offer a low-cost investment management solution. It involves
automated platforms providing assistance to consumers without them having to
settle the high fees charged by human financial counsellors. With time, this
system evolved. There are now hybrid models equipped with innovative features.
This post will explore the changes implemented in 2019.
The value of financial advisors
Since financial planners have to compete with robo advisors, they have driven down costs and they have to find new ways to prove that they are more reliable than the automated systems. Speaking on this issue, Steven Jon Kaplan, CEO of True Contrarian Investments in New York visualise a limited use of the digital solution. He said that human should differentiate and show their “added value”.
Since financial planners have to compete with robo advisors, they have driven down costs and they have to find new ways to prove that they are more reliable than the automated systems. Speaking on this issue, Steven Jon Kaplan, CEO of True Contrarian Investments in New York visualise a limited use of the digital solution. He said that human should differentiate and show their “added value”.
Banking services
Robo advisors are already expanding into other financial management area. For instance, one firm developing these platforms offer loans to their customers. It is also planning to introduce checking accounts and debit cards that will integrate with its existing infrastructure. Thus, robo advisor clients will be able to meet several of their financial needs under one roof. This might lead to more people opting for this facility.
Robo advisors are already expanding into other financial management area. For instance, one firm developing these platforms offer loans to their customers. It is also planning to introduce checking accounts and debit cards that will integrate with its existing infrastructure. Thus, robo advisor clients will be able to meet several of their financial needs under one roof. This might lead to more people opting for this facility.
Robo
advisors provide financial advice
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