One popular term that has emerged since 2010 from the increasing adoption of automation in the financial world is ‘robo advisor’. The term is now synonymous with automated personalised investment advice and optional automated discretionary investment management.
The robo advice industry is still nascent. We are still in the early-days of this industry, even though this industry has been evolving since last 10 years.
In Australia, the regulatory authority has played an important role for the emergence of digital advice (also known as ‘robo-advice‘ or ‘automated advice’).
As the world becomes more prosperous, the future of wealth management is bright. The size of the industry in some world regions will grow at a healthy pace.
I have often come across this question. Yes, there will be a considerable impact on jobs in the wealth management industry due to automation and technology advancements, such as robo advisers. However, the following job profiles would persist.
