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Michael Kitces – The Past, Present & Future of Financial Advice - [Invest Like the Best, EP.122]
Invest Like the Best with Patrick O'Shaughnessy
The Evolution of Robo Advisers
Robo advisers emerged about six to seven years ago, presenting a perceived threat to traditional financial advisers. However, their impact in terms of assets gathered has been smaller than expected, indicating that the human-to-human relationship remains a vital component of a financial adviser's value proposition. While technology has made investment management more accessible, the non-investing aspects of financial advice, such as personalized services and human interaction, continue to be crucial. Despite early concerns about robo advisers disrupting the industry, they are essentially technology-driven managed accounts, catering to self-directed investors.
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