The message from a leading financial advisory industry group is stark: The rise of the machine advisor is unstoppable now and traditional advisors are in its path.
IMCA surveyed its members to gauge their anxiety regarding the advent of automated investment. A slight majority (51.7%) agreed that online investment tools, algorithms and platforms will win assets from unproductive, low-end advisors, says IMCA Chief Executive Sean Walters. Only a third felt safe enough to say that robos pose "no threat" to their business, he adds.
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