By David Tuckwell on Monday 21 August 2017
Invesco's white labelled robo-advisor, Betterment sets the example, and more...
A weekly roundup of robo-advice news from around the web.
Sick of the ‘what jobs will robo-advice kill?’ question raising its head, Robo Advice News asked some experts what they thought. We found that there is no consensus on what AI is, let alone whether it will take jobs. Maybe we in the media are making too much of it?
But maybe the future of robots won’t matter. More and more research is finding that the best way forward for robo-advisors is to use a hybrid model – humans and robots together. This is what Betterment started doing and plenty of others have followed.
Invesco owns a huge ETF issuer PowerShares, so it only made sense that it would expand into robo-advice. The company’s robo-advisor, Jemstep, is being white labelled and used by KeyBank, a US-based finance company. Others, the company expects, will shortly follow.
In news from Canada, most investors still don’t understand what fees active managers charge. This, the report suggests, should be a boon for robo-advisors, who are wholly transparent in what they charge.
This article first appeared on www.roboadvicenews.com