A weekly wrap of robo advice from around the world
A weekly wrap of robo-advice news from around the world.
No-one knows what Brexit will mean for robo-advisors. While some foreign robo-advisors say it will stop them coming to the UK., closer to home, British investment in domestic robo-advice continues apace.
Robo-advisors have many different growth strategies. For Aussie robo-advisor Stockspot, the strategy is to bring in former Wallabies captain Stirling Mortlock, a local celebrity, to help build relationships with accounts and wealth managers. For Betterment, the strategy is to consolidate its hybrid model. (And maybe this is a good idea – considering that no-one pretends that robo-advisors can capture the complexity of human life.) Although it’s unclear if these strategies will succeed, one thing is for sure: robo-advice has changed how the wealth management industry thinks of itself.
Some have written off the chances of robo going big in China. But in good news for the industry Toumi RA, one of China’s biggest advisors, has increased its AUM every month by a third since launching.
This article first appeared on www.roboadvicenews.com