Roboadvisors Widening Appeal of Wealth Management
Juniper found that roboadvisors are broadening the appeal of the wealth management market, with their delivery method via intuitive smartphone apps making the investment process far more convenient, offering a compelling reason for millennials to invest.
The study found that this will drive total assets under management by roboadvisors upwards twelvefold, to $4.1 trillion in 2022, from an estimated $330 billion in 2017.
Juniper predicted that roboadvisors will become increasingly more automated over time, as AI & machine learning based approaches mature. Research author Nick Maynard added:
“The technologies powering roboadvisors will mature to such an extent that they move from their current human supervised role to being utilised in a fully automated way. This will be aided by track records of performance automated roboadvisor systems are establishing.
Potential Savings From Automation Tempting Existing Players Into Investment
While new entrants are disrupting the market, traditional wealth management players are also adopting new technologies to evolve their business models.
Providers such as
BlackRock
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