Friday, 11 August 2017 08:32

Advisors Shy Away From Using Robos

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(New York)

Robo advisors are becoming a ubiquitous part of the industry and not just among retail investors. Human advisors also use them as partners to provide services to clients, deepening the role of the automated platforms in the market. However, many advisors have grown wary of using mainstream robos as they fear consolidation of the platforms in the industry. This has led some to build their own robo services as a way to stem the growth of the sector.

FINSUM: Robos are a major tide right now and advisors are right to be wary. However, we doubt independent RIAs building their own robo platforms for clients will be a long-term solution because of their lack of experience in providing such services and the inevitable user experience problems they will see as a result.

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