Note from the CEO: Here is an interesting spin. Robos are not robos, they are transformers. So, that’s not a duck…..it’s a sparrow with big feet. It’s not a losing trade…………..it’s an out of favor sector the market doesn’t understand. I get it.
Seems that wealth managers who are a bit reluctant (uncomfortable?) with robo advisor technology can find solace in considering the robos as transformers. And, it’s true. The robos are transforming how wealth management firms are adapting to the fast changing technology. Makes sense for advisors to just “re-think” the terminology.
“Wealth management firms are seeing “robos” in a new light: as change agents. While robos are mostly seen as an efficient mechanism for serving smaller investors and millennials, they can also serve as the test grounds for modernizing existing operations. With that, they’re not just robos — they’re transformers.
Wealth management firms increasingly view adding a robo service as an incremental step towards broader organizational change. And, in order to get the most out of their robo offerings, they’re choosing to run them “in house” rather than white label someone else’s solution.
The long run goal is to extract some of the best robo features for use within the context of advisor-led advice:…..”