When they launched roughly five years ago, tech-driven companies such as Betterment or Wealthfront had the audacious and laudable goal of taking on the incumbents of the gargantuan wealth management industry.
Many traditional wealth managers were skeptical of portfolios being driven by artificial intelligence, and adopted a “wait and see” approach. If it became clear that the machines were indeed taking over the wealth management industry, they could then find some way to reverse-engineer their way into the market, using their scale and connections to make up ground.
It’s hard to say, but the robo-advisor space continues to be an interesting one to watch. It also teaches us an interesting
Source: http://www.visualcapitalist.com/robo-advisor-arms-race/
