Regional and investment banks in the US are cutting ties with traditional broker - dealers in favour of robo - advisory platforms , aiming to target the mass - affluent market . OceanFirst Financial has teamed up with Nest ##bank , the latest bank to make a move to hire a digital wealth manager in a bid to avoid fees and streamline the process . Over two - thirds ( 68 % ) of bank customers are reported to be very interested in opening a robo - advisory account , according to bank consultancy Novantas .
Regional and community banks in the US are cutting ties with traditional broker-dealers in favour of robo-advisory platforms, designed to target the mass-affluent market. OceanFirst Financial has teamed up with Nest Egg, the latest bank to make a move to partner a digital wealth manager in a bid to avoid fees and streamline the process. Over two-thirds (68%) of bank customers are said to be very interested in opening a robo-advisory account, according to bank consultancy Novantas.