The Financial Services industry has changed dramatically over the past few years and with it comes new challenges for financial advisors. We have seen a shift from traditional advice to digital advice. Instead of sitting down with a financial advisor, investors are turning to technology for help in making investment decisions.
Roboadvisors are an emerging investment management technology that provides automated portfolio management services. The goal is to provide low cost diversification across multiple asset classes while minimizing fees. The benefit of using roboadvisors is that they can offer personalized investment advice without charging high fees.
507.181m people are expected to be investing through Roboadvisors by 2026.