A report from Citigroup entitled 'Rise of the Machines: Retail Revolution' suggests that robo-advising is gaining traction with younger investors and looks set to become 5tn industry. It states that robo-advisors have gone from near the next decade in zero to $14bn and could expand to $ a trillion dollar over just two years and creating downward pressure on fees across the industry. However, the report also states that 'there remains (and we think will always remain) a place for face-to-face quality advice'.
A report from Citigroup entitled 'Rise of the Machines: Retail Revolution' suggests that robo-advising is gaining traction with younger investors and looks set to become a trillion dollar industry. It states that robo-advisors have gone from near zero to $14bn in just two years and could expand to $5tn over the next decade and creating downward pressure on fees across the industry. However, the report also states that 'there remains (and we think will always remain) a place for face-to-face quality advice'.