Robo advisors: How automated advisory services are reshaping the wealth management industry
Kuwait: February 5, 2018
Over the past few decades, the power of technological change has altered a multitude of conventional industries
After having transformed numerous industries, technological advancements and innovation have reached the wealth management industry and are promising a major overhaul of the way both wealth and client relationships are managed
Robo Advisors are helping fill a significant gap by satisfying the unmet needs of smaller investors. A segment that holds a significant portion of the global investable assets pool that was not economically feasible to pursue and didn’t have the necessary means to invest efficiently using traditional venues
Automated advisory models, which started as machine only models, are morphing into hybrid models by re-introducing the human advisor element in multiple forms across the product offering. Machine-only models are becoming a commodity
The investment management industry has always been at the forefront of technological innovation and the current ongoing transformation, short of being disruptive in the strict sense of the word, is a continuation of a long running trend that is aimed at keeping the industry profitable and viable.
Although the human element’s involvement is bound to decline with the vast adoption of robo-advisory models, the nature of the wealth management industry will always require human advisors and relationship managers to be available.
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