The biggest players in digital advice are also fund providers: Vanguard's Personal Advisor Services manages over $45 billion, while Schwab counts over $10 billion in AUM through its Intelligent Portfolios offerings.

Though other asset managers are keen to emulate such success, a deeper understanding of how to deploy robo technology to advisers is needed if a firm plans on offering a digital institutional solution, says Envestnet CEO Jud Bergman.

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