More investors trust the media on investment matters than robo-advisers despite the rising numbers of start-ups and established companies entering the space, according to Legg Mason’s 2016 Global Investment Study.
Robo advice is for those with assets who know where they want to invest and those with relatively few assets looking for low-cost access for their investments.
The regulatory pressures keeping wealth managers away from their core day job – running money – are unlikely to abate anytime soon, which is where companies like Pershing come in.
Two-fifths of UK wealth managers believe robo-advice offers the potential for greater efficiency and to attract new clients in the next five years, according to a survey from Vanguard.
Continued regulatory uncertainty is and will continue to frustrate the growth of the robo-advice industry in the UK, says Numis’ analyst David McCann.
Journalists love conflict. It sells newspapers. It gets people tuning in to radio and TV. Which is why we are so quick to frame something as a battle between two diametrically opposed sides.
Two-thirds of wealth managers only accept clients with at least £500,000 to invest, a report by findaWEALTHMANAGER.com has revealed.
BlackRock has ventured further into the digital wealth management space with the acquisition of robo-adviser FutureAdvisor.
