For all their headlines and growing popularity, robo-advisors are still an emergent technology—and changes are undoubtedly in store not just in their evolution, but also for clients and for financial advisors.
Investor’s Business Daily reports on the predictions of industry professionals regarding the direction in which robo-advisors may go, and what advisors can do to make current client relationships more secure.
According to Brian Barnes, founder and CEO of M1 Finance, robo-advisors are so much better at computations—volume, speed, accuracy—that they’ll thrive. In addition, he says in the report, “A lot of fintech players have been seeded with so much money that they’ll only have to perfect the experience once, and then they can distribute it to others. That will change things. Millennials are starting to make decent salaries and save a bit, and they don’t care about the 150-year history of an established fund company. Innovators are offering cheaper and more personalized experience.”
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