In The Age Of The Robo-Advisor, Vanguard Reigns Supreme

In this digital world, more and more services are getting automated by each passing day. Financial advice and portfolio management is no exception. These industries are deploying robo-advisors, which provide online financial advice and automated portfolio management services with the help of computer algorithms.

Niall McCarthy of Statista says the concept is becoming increasingly widespread across the financial world, and according to some analysts' predictions, assets controlled by robo-advisors could grow to over $250 billion by 2020.

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

Statista’s estimates show that the top robo-advisors by assets under management are US-based, with Vanguard leading from the front as its assets managed by robo-advisors stands at an estimated $47 billion. Charles Schwab Corp SCHW Intelligent Portfolios and Betterment came in second and third with $10.2 billion and $7.4 billion respectively.

The following chart shows top robo-advisors by assets under management (in million U.S. dollars).