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Rise Of The Machine: How Robo-Advisors Will Help You Profit

Rise Of The Machine: How Robo-Advisors Will Help You Profit

Robots aren't just housekeepers on the Jetsons anymore. Now anyone can access investment advice because of the proliferation of web-based and mobile advisor services.

The current state of robo-advisor technology is still in the beginning stages, but the tech-savvy are already hopping on the bandwagon. According to a 2015 survey by A.T. Kearney, assets invested in roboadvisors will rise 4.5 percent by 2020.

Advizr, a financial planning service available on mobile platforms, touts itself as perfect for Gen X and Y investors. This sort of service is a one-size-fits-all approach to investment strategy. You can see the Advizr team demo its product at the BZ Fintech Awards May 24 in New York City.

While trading in your long-term financial advisor may not be as appealing to the seasoned investor, it's enticing to a new wave of millennial investors who are just now making their first decisions.

Some companies are working to combine human power with robo-advisor technology.

Companies like Vanare, a digital advice service available on mobile platforms, acquired a product called Nest Egg that helps advisors aggregate client data. The program helps them access trends in clients’ financial history, allowing them to make informed decisions when offering advice.

Investment firms are using robo-tech to their advantage by reaching a wider wealth demographic. So, instead of taking over, perhaps roboadvisors are freeing up investment consultants’ time to focus on their more affluent clients.

Investment Advisor recently added Vanare CEO Lex Sokolin (see him speak at our event) to its 2016 Most Influential People.

Without a huge minimum for investors, robo-advisors open the door for a larger group of people to access capital markets and double their money... as long as their robots are keeping tabs on the market.

For those interested in checking out Vanare or Advizr’s technology, the BZ Fintech Awards is featuring them as an exhibitor in two weeks.


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