Robo Advisors vs. Human Financial Advisors: Why Not Both?
MyPrivateBanking
After the strong growth of the robo advisory approach in recent years, promoted by numerous start-ups worldwide as well as sizeable number of early adopting wealth managers, a new ‘sub-species’ has emerged: the hybrid robo/personal contact service, which adds a substantial software component to human interaction in the client advisory process.
This is a key finding of MyPrivateBanking's latest report "Hybrid Robos: how combining human and automated wealth advice delivers superior results and gains market share".
Robo Advisors vs. Human Financial Advisors
Robo-advisors have begun to distinguish themselves into three models, but they each have the same goal. Standalone companies such as Betterment (the most popular U.S. robo-advisor) use algorithms to recommend stocks and manage portfolios. Hybrid robo-advisors combine computerized recommendations with on-demand advice from a human being. And advanced standalone companies leverage more complex algorithms to create and actively manage portfolios.See the rest of the story at Business Insider
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