Bank of America, UBS, and Morgan Stanley are leading the traditional global wealth-management industry, with each responsible for managing more than $1 trillion in investors’ assets. These firms continue to draw multimillion-dollar clients, however, at the same time, many other leading wealth management firms are working on adopting robo-advisor along with their human financial advisors to help increase value for clients across different wealth spectrum.
Wells Fargo expects to launch its robo-advisors service early 2017, aiming to capitalize on its rich bank resources, intellectual capital and investment unit. Wells Fargo currently has more than 15,000 advisors with $1.4 trillion in client assets. The company believes that their clients are ready for this type of investment choice. Wells Fargo’s approaches to robo-advisors is a tremendous opportunity for the consumer and the financial advisor to utilize the robo-advisor platforms.
In the near future, certain amount of large firms will build their own platform of robo-advisory service, while mid-sized firms might buy independent robo-advisory firms. Smaller firms or start-ups may incorporate a branded industry solution.
Source: http://www.investopedia.com/articles/insights/072216/wells-fargo-launch-roboadvisor-2017.asp