Do you think automation will take market share from retail financial advisors / investment managers? It’s already started with apps like Wealthfront, but how much do you envision it taking over the role of a traditional wealth manager?
I think it’s rising actually - I have betterment and love it
I totally agree
Definitely take away market share from the back office financial advisors
100%
Agree that some of the business will move towards it; however, you have to be pretty financially savvy to trust yourself and the platform. Many customers that financial advisors work with are not financially literate and don't trust themselves to even allocate money correctly on a wealth platform. This is why FAs will never go away.
Right, financial knowledge will still be important to manage money.
I believe we are going to use robo-advisors more often, and I expect we will see less traditional wealth managers. Wealth managers in the future will rather manage robo-advisors and programming and statistical skills will be required.
I could see this becoming a reality