Over the past two years, there's been a growing trend of broker-dealers announcing prospective launches of their own robo advisor solutions. From LPL developing a platform with BlackRock's FutureAdvisor to Voya planning to launch a robo advisor, and Kestra Financial announcing it is working on a robo platform on the back of its acquisition of H. Beck, there's been no shortage of announcements.
Yet while I’m very upbeat on the potential for advisor technology to improve our businesses, I think broker-dealers in particular are entirely missing the point of the robo phenomenon and particularly when it comes to advisors.
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