Analysts at asset manager, Bernstein, believe the future is bright for robo advisors; in a recent client memo the firm concluded that BlackRock and Fidelity will eventually incorporate them into their business and technology giants Google and Facebook could be their main competition; though the current disruption from robo advisors is minimal, the largest one has $60 billion AUM as compared to Fidelity with $5.1 trillion AUM, the technology is what will be most useful for the wealth management industry; you have already seen big names like Deutsche Bank and UBS launch robo advisors, while BlackRock and Invesco have made acquisitions of the technology. Source
- About the Author
- Latest Posts
This content was created by one of our content team members. You can pitch a news story — including guest contributor requests — using our story portal.