Published on : May 13, 2016
ALBANY, New York, May 13, 2016: The report offers a comprehensive study of the global robo-advisors market and analyzes the differences between various automated investment platforms. Case studies of the most successful and established robo-advisors have been included in the report to offer insights on the features that appeal to customers. The report further analyzes the attitude of high net worth individuals towards automated wealth management advices. Information about established software vendors entering into the global robo-advisors market has been also included in the report.
A robo-advisor refers to an online wealth management platform that offers automated, algorithm-based portfolio management advices. No human financial planners are involved in the whole process. The report defines robo-advice, providing an overview of the history of the global robo-advisors market and views of regulatory bodies regarding services offered by automated advice platforms. The wealth management industry has long been apprehensive in adopting the digitization process. The first client-facing robo-advisors were introduced in 2008. Robo-advice platforms have been gaining popularity since 2015 and hence, the automated investment management space is fast becoming competitive with the entry of new market players. With the help of software developers, traditional wealth managers are also entering the digital advice market.
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The report states that regulators have been unable to keep up with the rising popularity of automated advice solutions. This has created an opportunity for industry leaders to directly influence the designing of regulatory framework around robo-advice. A majority of wealth managers focusing on high net worth clients do not consider robo-advisors as a threat to their business as these clients show limited interest in robo-advice.
The report studies the global robo-advisors market across key regions such as the U.K., the U.S., Australia, and Switzerland. The U.S. is the leading region in the market with low-cost robo-advice. The rapid growth of this regional market can be attributed to the price sensitivity exhibited by self-directed investors who look for cost-effective robo-advices compared to advices offered by wealth managers. Robo-advisors in the U.S. operate through various business models. The hybrid business models leverage the digital channel to offer advice provided by humans. In the U.K., robo-advisors lack recognition as only a few digital players have received advisory permissions. As a result, most of the financial advisors in the country offer non-advised digital discretionary asset management. Business models elsewhere are similar to those existing in the U.S. and U.K. robo-advisors market.
Describing the competitive landscape, the report compiles information about some of the major partnerships among key players in the global robo-advisors market such as the partnership between Fidelity and Betterment Institutional, and FutureAdvisor and RBC.
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