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Warning: Don't ignore roboadvice
Monday 15th of June 2015
He spoke about global trends in adviser technology at the IFA/PAA joint conference last week.
Logan said advisers could not ignore the prospect of robotic competition. “Wealth management and the advice industry is ripe for disruption in the same way that iTunes and Uber have disrupted their industries.”
There is US$15 billion invested through roboadvice but that is predicted toincrease to US$255 billion in the next five years.
Many offerings promote their low fees. Most charge between 0.15% and 0.35% of client FUM.
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