Robo-advisers will have a significant impact on the financial services industry over the next five years, a global fintech survey by CFA Institute showed. Asia-Pacific respondents, however, said peer-to-peer lending (29%) rather than robo-advisers (25%) will have the biggest impact in one year. Opinions in Asia showed a sharp difference from those in the Americas, Europe and the Middle East. Nearly 40% of respondents in North and South America believe robo-advisers will have the highest signficiance in one year. The survey polled 775 CFA members globally in February, with 56% from the Americas, 27% from Europe, the Middle East and Africa, and 17% from Asia-Pacific.
Big firms go robo
Large market players have been adopting fintech tools, according to reports. Earlier this week, UBS’s Americas wealth unit bought a stake in robo-adviser Sigfig Wealth Management to develop new wealth management tools. Morgan Stanley and Bank of America are developing their own technologies, while Fidelity is testing a robo-adviser on its clients. Blackrock acquired a robo-adviser, Future Advisor, last August. Deutsche Bank introduced a robo adviser service in its online investment platform in December. Read entire article >>
[Source: Fund Selector Asia - by Imogene Wong - May 20, 2016]
