By David Tuckwell on Tuesday 4 July 2017
A daily roundup of robo-advice news
Robo-advice news from around the world, summarised daily.
How old is the average robo-advice user? Around 44 years old it turns out. “There’s a perception that because it’s using technology it must be attracting younger people. But it’s not millennials that are using them. It’s actually older people that are engaging with robo-advisors in general.”
Robo start-ups are failing to live up to the hype because of overcrowding in the market and incumbents copying their ideas. While the future of robo-advice is bright, that future lies in Asia. So claims Business Insider in its latest industry report.
Potential robo-advice clients include the young and old, rich and poor alike, and demographics shouldn’t be an excuse for not trying, says the managing director of Prydis Wealth. The simple fact is, if robo-advisors want more clients they need to try harder.
This article first appeared on www.roboadvicenews.com