Top 11 Robo-Advisor Trends for the Future
Free Robo-Advisor Trends Report from Top Experts
The robo-advisory field is upending the financial industry. Consumers benefit with low fees and low minimums for top-notch investment portfolios. You can get a professionally-managed investment portfolio for with no administrative fees at WiseBanyan and Schwab with their Intelligent Portfolios. Wealthfront and Betterment aren’t far behind with management fees below 0.25%.
The big investment houses -Vanguard, Schwab, TD Ameritrade and more – are jumping on the robo-advisor bandwagon as well. Not to be left behind, financial advisors are competing and adding their own robo-advisory platforms.
The robo-advisor industry is in its infancy. We invited some of the top experts in the field to weigh in on the current trends in the robo-advisor industry. Here’s a taste of some of the findings:
- Artificial Intelligence is on its way to the robo-advisory industry.
- Soon you’ll be able to get a robo-advisor that offers more diversified investment products.
- You may be finding an Amazon or Google robo-advisor in the future.
In the year since this study was published, many of the robo-advisory predictions are coming true.
Number of Robo-Advisors is Exploding
During 2017, new robo advisors launched at record speed. Wells Fargo, Citizens Bank, Ally Bank (bought TradeKing Advisors), TIAA are a few of the big financial firms that joined the robo-advisory group. WealthSimple, Canadian robo-advisor, became available to U.S. investors. QPlum, launched a hedge fund type robo-advisor. Additionally, Ellevest, a robo-advisor for women, came on the market with a huge splash this year.
Socially Conscious Investment Options With Robo-Advisors is Growing
Socially-conscious investing with a robo-advisor is growing in popularity. Motif, M1 Finance, Betterment and the Grow App are among the robo-advisors with impact investing options. Earthfolio and OpenInvest are other new impact investing robo-advisory apps on the market.
The Hybrid Robo-Advisor is Popular
The hybrid model of robo-advisors which includes digital investing and human advisors is exploding as well. For example, there are individual financial advisors who are adding back-end robo-advisors. SigFig, TD Ameritrade and Vanguard Personal Advisor Services all offer financial advisor access. And, Betterment connects Premium customers financial planners and all customers enjoy Betterment’s option to text with a financial pro.
Finally, here’s a handy reference list of 28 top robo-advisors. It’s certain they’ll be more coming along soon.
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Updated December, 2017