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Robo advisors are here to stay, but some human advisers may not be.
The impact of digital advice is becoming clearer, says Chip Roame, managing partner of industry consulting firm Tiburon Strategic Advisors.

"It's shining a light on pricing in investment management," Roame explains while rounding up findings from his firm's new report, The Future of Wealth Management. "The robo trend is pointing out to consumers that professional wealth management is worth maybe only 25 basis points. That challenges pricing for advisors."

His firm now counts 51 robo advisors in the market, collectively managing close to $250 billion. "That's a lot of robos," he says.

Roame holds fast to his previous prediction that the digital offerings of established firms such as Vanguard and Schwab will ultimately dominate and remain sustainable, while independent firms such as Wealthfront, Personal Capital or Betterment may struggle.

Independent platforms claim just 3% of the digital wealth management industry's entire current AUM, he points out.

However, online advice continues to advance, having grown almost 1,500% since 2007.