Robo-Advisors vs. Human Wealth Managers: Young(er) Investors Hold the Answer
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While robo-advisors continue to grab market share in the investment industry, the pace is slowing from the explosive growth that took the market from $2B in assets in 2013 to $140B in 2016. According to recent reports, the growth rates for Betterment and Wealthfront have fallen to just 1/3rd of what they were the prior year.
Some traditionalists may feel a sense of reprieve as the industry enters the next stage, where many are suggesting that the winning recipe is not a tech-only solution but a service that blends the best of technology with personalized and experienced advice from a licensed professional.
Unfortunately, the current state is not our destination, but merely a step in the evolution of investing when it comes to robo-advisors vs. human wealth managers.
The answer to survival lies with the psychology of the young consumer and future investor.