Summary: Even the name robo-advisor is derisive. It creates an image of uncaring, lack of humanity and inflexibility. It is the term that is now being broadly used by advisors to describe the new breed of technical startups (upstarts) that directly connect a technical-savvy investor with a suite of analytic tools that allow them to create their own financial plan or investment portfolio. A name this disparaging shows that advisors have some fear of this new model of financial advice.
 So, should advisors be afraid? Robo-advisors will probably succeed in a new market, which has largely been ignored by advisors – young, high income, portfolio accumulators. Advisor sentiment to date has been: why go after someone with no money? Technology-centric solutions may make this client segment profitable."Raef Lee, Managing Director, SEI Advisor Network |
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