Anything For You All: [CHART] Incumbent investment firms have the opportunity to win on the robo-advisory front

Minggu, 18 November 2018

[CHART] Incumbent investment firms have the opportunity to win on the robo-advisory front – here's how...

NEW CHART & DATA: FINTECH

Exclusive data shows consumers want robo-advice from incumbent investment firms…

Awareness of digital wealth managers is steadily increasing, but a minority of consumers around the world currently have their assets under management by one of these players, according to Business Insider Intelligence's recent New Tech survey. Eighty-two percent of 2,076 respondents said they have no assets under management by a digital wealth manager. Of the 18% who do, the majority (67%) only use the service for up to 25% of their assets, with only 5% using a digital wealth manager for 76-100% of their assets. Our data skews toward affluent, tech-savvy early adopters, so the general population may have even lower utilization of these products.

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This low adoption could have to do with consumers wanting digital wealth management from incumbent investment firms, which have only just begun moving into the space. While fintech startups like Nutmeg and Betterment have been at the forefront of digital wealth management, only 22% of respondents said they would trust one of these companies to provide them with such services, while 35% said they would trust a traditional investment firm.

The data suggests that there's ample opportunity for incumbent investment firms to win on the robo-advisory front. The fact that consumers trust these companies the most should spur many more incumbent investment firms to roll out such services in the future.

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