Robo advisors

Figuring out how to make automated platforms appeal to planners has been a learning process, says the custodian’s technology executives.

Nearly 17 million investors will use the technology by 2021, a rise of 1.8 million compared to last year, Aite says.

To encourage a budding relationship with younger clients, firms must provide new offerings and more guidance about how to invest, Schwab says.

Clients will flock to digital advice, but conditions favor incumbent firms, a study found.

"We're offering the same if not better-quality products at a highly reduced fee," said Eileen Duff, head of distribution at iCapital Network.

The industry is generally skeptical of automated advice platform growth projections, which PwC sets at $800 billion over the next five years.

When measured against a standard of care for best interest advice, digital wealth managers fall short, attorney Melanie Fein argues.

Executives say wealth management’s evolution means automation, lower salary expectations and niche practices.

Life after work is much more complicated now than the industry assumes it to be, says former HelloWallet founder Matt Fellowes.

These firms may actually be the worst positioned to capitalize on the robo trend, Michael Kitces writes.