Every day, emerging technologies are bringing newer dimensions to the financial services industry. Robo-advisors, generally referred to as online investment services that deliver algorithmically derived financial advice, brought a new wave of automated, low-cost investment advisory to the wealth management space. Some early FinTech innovators, led by Wealthfront and Betterment, got everyone enthusiastic with their advanced AI/ML and automation capabilities, as well as easy access for a broader range of customers by virtue of low fee. Sensing the scope of this opportunity, hundreds of startups then followed suit and have tried to shake up the investment world with their offerings. |
