Category: Industry News

Veres: Robo Worries? Get Over It

There seem to be endless discussions these days about the so-called robo challenge. For my own speeches, though, I’ve become more interested in a broader discussion about the way the profession is evolving.

The real question, in my mind, is: How can advisors turn a perceived challenge into an advantage?”

Click here to read Bob Veres full article on Financial-Planning.com!

Expect Shakeout Among Robo Advisors, but Embrace Them Now

The rise of the machines isn’t coming, it is here, and advisors need to understand how to leverage this technology so they can focus on what they do best: finding new clients and providing customized advice to existing core clients, agreed all three experts on the Robo Advice: Evolution, Not Revolution panel at the 2015 Morningstar Investment Conference on June 25.

In his opening comments, moderator Nicholas VanDerSchie of Morningstar reported there at least 37 different automated advice providers (robo-advisors) in the market, ranging from direct-to-client front ends to automated account solutions to robo platforms for advisors. But despite the proliferation of this technology, on the defined contribution side, assets under management so far account for only 2.5% of all retirement assets, and a fraction of 1% on the non-DC side, he noted.

Click here to read Ginger Szala‘s complete article from ThinkAdvisor!