The wealth management industry has long been resilient to the digitization process observed in the wider financial services space. This has started to change, however, with interest in robo-advice platforms increasing in 2015. The automated investment management space is hence becoming ever-more competitive as new entrants launch propositions.
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Supported by software developers, traditional wealth managers have also started exploring the digital advice market. Competition will thus increase further, although robo-advisors are still looking for business models that will appeal to HNW individuals.
- Regulators have not been able to keep up with the growing popularity of automated advice solutions. This creates an opportunity for industry leaders to have a direct impact on how the regulatory environment around robo-advice is designed.
- The US is the home market of low-cost robo-advice, as self-directed investors are driven by price sensitivity above all else.
- New entrants across the globe are introducing innovations to the automated advice space.
- Most wealth managers focused on the HNW segment do not consider robo-advisors a threat to their business, as the wealthiest individuals show limited interest in robo-advice.
- Robo-advisors that emerged as startup companies will partner with incumbents to attract more assets to their platforms.
“Robo-Advice: Mapping the Competitive Landscape” looks at the growing robo-advice market. As the industry lacks clear definition of what robo-advice is, we clarify the differences between various automated investment platforms.
Case studies of the most successful and established robo-advisors provide insight on what features appeal to clients and why. Drawing on our 2015 Global Wealth Managers Survey the report specifically analyzes HNW investors’ attitudes toward automated advice.
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Specifically the report:
- Defines robo-advice, providing an overview of its history so far and regulators’ approach to services provided by automated advice platforms.
- Provides case studies of successful robo-advisors operating in a number of markets, including the US, the UK, Switzerland, and Australia.
- Identifies the digital platform features that appeal to HNW investors.
- Analyzes wealth managers’ attitudes towards robo-advice.
- Looks at the benefits of partnerships between robo-advisors and competitors operating traditional business models.
Reasons to Access the report
- Understand what robo-advice is and how it affects traditional wealth managers.
- Recognize regulators’ approach to robo-advice and the guidelines to consider when launching digital investment platforms.
- Learn best practice from established automated advice providers’ case studies.
- Discover how automation can be beneficial to your company’s operations, particularly in relation to advisor efficiency.
- Identify the markets with the highest growth potential in the automated investment space.
Table of Content: Key Points
The robo-advice market will grow as traditional players launch digital platforms
Critical success factors
Robo-advisors are digital investment management platforms
The first client-facing robo-advisors were founded in 2008
Robo-advisors were preceded by PFM tools
Automated advice platforms are often fintech startup companies
B2C robo-advisors have been evolving, with traditional players building their platforms
Robo-advice has also entered the B2B space
Financial advisors can use existing solutions initially designed for the B2C market
Robo-advice platforms are now offered by IT software developers
Regulators are increasing the scrutiny on automated advice
Regulators' attitudes towards robo-advice differ between markets
The industry should use the robo-advice label carefully
CLIENT-FACING ROBO-ADVISORS COMPETITIVE LANDSCAPE
The US is the home of robo-advice
US robo-advisors operate three typical business models
The vanilla US robo-advisors appeal to cost-sensitive investors looking for simplicity
Hybrid business models leverage the digital channel to offer advice provided by humans
Robo-advisors have to introduce unique features to succeed in the long term
UK robo-advisors have been lacking recognition
The uptake of digital platforms in the UK differs from the US
Few digital players have obtained advisory permissions
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