Presentation (Project) Title

Does Robo-Advisor Equal No Advisor?

Mentor Information

Robert Tiller (Muma College of Business)

Presentation Format

Event

Abstract

Robo-advisors are expected to have $2.2 trillion in assets under management by the end of 2020. In 2016, they managed just $300 billion (KPMG, 2016). As young, tech savvy investors begin to gravitate towards these platforms, traditional financial advisors must learn how to adapt to the rapidly changing competitive landscape of the industry or run the risk of losing business. The purpose of this pilot study was to investigate the current sentiment of traditional financial advisors towards robo-advisors and consider potential ways that traditional advisors can leverage robo-technology. The study consisted of a survey which gauged traditional financial advisors’ current sentiment towards robo-advisors, as well as a series of interviews with traditional advisors across three separate areas of the industry. The exploratory work investigated how human financial advisors view robo-advisors and helped to determine ways in which robo-technology may be leveraged to benefit clients. Implications of this paper’s findings are relevant to traditional financial advisors, firms, and clients.

Streaming Media

This document is currently not available here.

Share

COinS
 

Does Robo-Advisor Equal No Advisor?

Robo-advisors are expected to have $2.2 trillion in assets under management by the end of 2020. In 2016, they managed just $300 billion (KPMG, 2016). As young, tech savvy investors begin to gravitate towards these platforms, traditional financial advisors must learn how to adapt to the rapidly changing competitive landscape of the industry or run the risk of losing business. The purpose of this pilot study was to investigate the current sentiment of traditional financial advisors towards robo-advisors and consider potential ways that traditional advisors can leverage robo-technology. The study consisted of a survey which gauged traditional financial advisors’ current sentiment towards robo-advisors, as well as a series of interviews with traditional advisors across three separate areas of the industry. The exploratory work investigated how human financial advisors view robo-advisors and helped to determine ways in which robo-technology may be leveraged to benefit clients. Implications of this paper’s findings are relevant to traditional financial advisors, firms, and clients.