Robo-advice News Wrap – Monday 12 June

Robo-advice news from around the world, summarised daily.

Robo-advice news from around the world, summarised daily.

HSBC’s robo-advice launch last week made international headlines. But using technology to bridge the “advice gap” for poorer pensioners is a growing theme in pension markets, with other businesses and the British government providing all kinds of robo wealth services the past few years.

Common knowledge has that millennials are the best target market for robo-advisers. But are they? Studies are showing that tech-savvy pre-retirees are just as open-minded about technology as young. They’re also much richer. Australian robo-advisers like Six Park are catching on.

How robo-advisers might break into Asia left Morningstar’s Hong Kong conference attendees scratching their heads. One suggestion was the hybrid approach: as Asian investors usually have more than one financial adviser, robo could be brought in as something on the side until trust is built. Another suggestion was leaving the market to big established banks, and forgetting “rubbish” like Nutmeg.

This article was originally published on www.roboadvicenews.com.