Wells Fargo plans to launch a robo-advisory platform in the end of 2Q16 . The bank, which previously signaled its intention to announce a partnership tied to a robo-advisory platform by the end of 2Q16 , has not yet decided whether to develop its own strategy or collaborate with another firm. Despite the growth in the sector, 15,000 of investors polled in the Wells Fargo / Digital for Wells Fargo Advisors survey with 10,000 of investments had previously heard about robo-advisory technology, with 55% claiming to use the services. The bank expects awareness to grow quickly, according to Devon McConnell , head of Digital for Wells Fargo Advisors , who compared the technology with online shopping in the early stages of adoption. “Automated investing tools are still in their infancy, but we expect awareness to grow quickly,” said Devon McConnell, head of Digital for Wells Fargo Advisors, in a statement. The automated advice tool will be offered through the 15,000 financial advisers employed by the bank and directly to consumers.
Wells Fargo plans to launch a robo-advisory platform in the end of 2Q16 . The bank, which previously signaled its intention to announce a partnership tied to a robo-advisory platform by the end of 2Q16 , has not yet decided whether to develop its own strategy or collaborate with another firm. Despite the growth in the sector, 15,000 of investors polled in the Wells Fargo / Digital for Wells Fargo Advisors survey with 10,000 of investments had previously heard about robo-advisory technology, with 55% claiming to use the services. The bank expects awareness to grow quickly, according to Devon McConnell , head of Digital for Wells Fargo Advisors , who compared the technology with online shopping in the early stages of adoption. The automated advice tool will be offered through the 15,000 financial advisers employed by the bank and directly to consumers.