Robo-Advisors Came to Slay Industry Giants, but Instead Schooled Them
May 3, 2021 by Timothy Welsh
What You Need to Know:
- Robo-advisors have validated human advisors’ ultimate value.
- VC-backed robo-advisors never gained much traction, and eventually were eclipsed by the incumbents they were trying to disrupt.
- But there’s no disputing that they’ve forced established industry players to innovate.
For a lot of us, the fact that the modern robo-advisor movement is now in its 13th year is remarkable.
It seems like it was just the other day that these potential disrupters were entering the scene to transform wealth management and inflict significant damage to the financial advisor space, just as digital players had done to other traditional industries.