Big Trends From Tiburon: Robo Advisors, DIY and Tech Changes
Online advisors, do-it-yourselfers and technology are expected to top the agenda at this weeks Tiburon CEO Summit in New York.
The rapidly emerging online distribution channel is attracting serious venture capital, notes Chip Roame, managing partner of Tiburon Strategic Advisors, in a preview of his bi-annual state of the industry keynote presentation released by the consulting and research firm.
"Do-it-yourself" firms that can "combine delivery mechanisms" will be a "smart bet" going forward, Roame says. Advisory industry executives indicated at the last CEO Summit, in San Francisco in fall 2013, that substantial investments will be flowing to Big Data and mobile technology this year.
Click through to see Roames top six trends in financial advisory services, or read more on his presentation.-- Charles Paikert
<b>1. Do-It-Yourself Models Expand</b>
Discount brokerage firm channels are growing steadily, with assets under administration at $4.6 trillion in 2012.
-- Comfort of younger generation with technology.
-- Loss of confidence in some financial advisors and their firms.
-- Amount of financial noise that technology can screen and organize.
Almost three-quarters of wealth investors use Facebook and almost one-third of wealthy investors use LinkedIn.