Should you let a robo-adviser look after your investments?
Private clients are gaining a great deal from new tech-based investment services
New tech-based investment services offer great potential for investors. But the skilled, traditional wealth manager still has a crucial role to play, especially in volatile markets. According to a study by McKinsey & Co last year, there are about 42-million households worldwide, representing $13.5-trillion in financial assets and $66-billion in annual revenues, with at least 20%–30% of mass affluent consumers likely to be receptive to the virtual adviser model. Private clients are gaining a great deal from technological innovation. In common with just about every other industry, technology is transforming wealth management, giving investors greater access to research and investment products, lower transaction costs and improved reporting. New tech-based services can also help attract a new generation to investing, providing them with online tools to save and access basic automated financial advice. According to Accenture, global investment in financial technology, also known as fint...
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