Robo-advisers should be seen as a way for traditional financial advisers to "deliver deeper levels of advice to a wider client base" not a threat, says Scott Smith, director of research and consulting firm Cerulli Associates. The company estimates the digital advice industry to be worth $83bn by the end of 2016, with more than 75% of those assets held by two "top brand" firms. Human advisers will still be required as "households continue to seek advice from a professional who can help them manage the turbulent times", said Smith.
Robo-advisers should be seen as a way for traditional financial advisers to "deliver deeper levels of advice to a wider client base" not a threat, says Scott Smith, director of research and consulting firm Cerulli Associates. The company estimates the digital advice industry to be worth $83bn by the end of 2016, with around 75% of those assets held by two "top brand" firms. Human advisers will still be required as "households continue to seek advice from a professional who can help them manage the turbulent times", said Smith.