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Robo-advisors are currently a hot-button issue in the financial services industry. With their sudden rise in both popularity and assets under management, many real advisors are concerned for the safety of their practice.
But should they be? Are you?
In order to determine how much of an actual threat Robo-advisors pose and how best to prepare your firm, it’s a topic that needs to be broken down and tackled from all angles.
So we’re taking on Robos.
In the simplest sense, a Robo-advisor provides online portfolio management without human involvement. But since the term was coined, Robo-advisors as an entity have evolved. Today, ‘Robo-advisor’ is a broad category that encompasses many types of financial tech strategies.
And since Robos are using much of the same portfolio management software as human advisors, they have by no means reinvented the advising wheel; however, they have changed the face of advising by cutting out the middleman - you.
So what does that all mean?
- What a Robo-advisor really is,
- How many asset management pies they have their Robo-fingers in,
- Who’s attracted to their algorithmic ways and why,
- And how you can use Robo-tech to your advantage
Much debate surrounds the longevity of Robos, with many advisors holding steadfast in their ways until the dust settles either way, but regardless of survival, Robo-advisors have already made their mark on the industry: entrenching the financial services in technology to the point of no return.
Which means that waiting 'til the Robo fad dies out isn't an option.
In order to find out how best to move forward in the face of a changing financial landscape, download The Robo Pocket Guide - learn how you can use technology to your advantage.
Sometimes you have to fight fire with fire - or rather, tech with tech.