10 Jan 2019
Posted in Press Release
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.”
Woldemicheal concludes: “For traditional wealth managers to reduce the risk of losing market share, they would benefit from introducing a digital investment platform.”