Robo advisory is taking the financial industry by storm, disrupting the traditional wealth management business model by presenting a new, machine learning-enabled service for investors. As a result, emerging fintech firms are building digital advice-giving systems with fast-acting, analytics-driven expertise that in many ways could augment the capabilities of today’s human financial advisors.
With tightening regulations and increased customer demands driving industry changes at lightning speed, investor engagement solutions and self-service tools are becoming the new normal for wealth management. But what does this mean for banks and financial services firms who are struggling to keep up? According to Panos Archondakis, Senior Director of Wealth Management at EPAM, there needs to be less of a knee-jerk response and more of a measured approach to tackling these digital challenges.
In EPAM’s latest white paper, “The Future of Advisory: Exploring the Impact of Robo-Advice on Wealth Management,” Mr. Archondakis gives insight into the future of wealth management, offering thoughtful answers to questions such as:
And many others, including how best to strategically plan for the disruption. Download the full white paper to explore more on the topic and gain insight into how your business can respond to the challenges.