Traditional wealth managers set to lose market share to robo-advisors, says GlobalData

The robo-advisory market is increasing in competition globally, with more start-ups entering the wealth management industry year by year, says GlobalData, a leading data and analytics company.

Sergel Woldemicheal, Wealth Management Analyst at GlobalData comments: “In previous years, traditional wealth managers across the globe had a widespread level of agreement that robo-advice would seize market share.

“However, as of 2018, the level of agreement that Asian-Pacific and European wealth managers will lose market share to robo-advisors is beginning to align.”

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Woldemicheal concludes: “For traditional wealth managers to reduce the risk of losing market share, they would benefit from introducing a digital investment platform.”

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