SEARCH
US robo-advisers adopting 'hybrid' model
US robo-advisers adopting 'hybrid' model
Several large US robo-advice firms are including humans in their advice models, according to Adviser Intelligence.
Adviser Intelligence founder and chief executive Jacqui Henderson said in a blog that some of the biggest US robo advisers are now adding humans to their advice services.
"The US's biggest robo-adviser, Vanguard Personal Advisor Services, already blends human advice with robo platforms, as well as the fifth biggest US robo, Personal Capital," Ms Henderson said.
"Last month, the second largest robo in the US, Schwab, also combined its automated investment management technology with human advisers for its clients with at least $25,000 to invest.
"These moves by the biggest robos in the world are a sure admission that we are a long way off from a fully automated model becoming a reality."
Ms Henderson said humans are needed to round out the financial advice process, and increasingly robo advisers are becoming 'hybrids' by introducing people to round out their financial planning service.
Further, she said that until algorithms can be developed to dynamically sequence and replicate human behaviour and decision-making in reponse to life events, true robo-advice "cannot exist".
"Replicating the brain's thinking or feelings is a very complex problem to solve," she said.
"It is not like the replication of a motor skill or sensory function."
Subscribe to our Newsletter
We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians
Your email address will be shared with nestegg and subject to our Privacy Policy
latest articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Broker Daily
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Centre
- Investor Daily
- Lawyers Weekly
- Money Management
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Broker Daily Business Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Relative Return
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
