Robo-Advisers: Does The United Kingdom Really Need Auto-Responders To Make Suggestions?

The United Kingdom has the most advanced financial technology available in the world and even with the threat of Brexit removing all these advancements, still, newer technologies for government financing advisories would soon grow from the soil -- one of them are auto-responding "Robo-Advisers." These are just the banks' way of cutting down on its employee fees by having robo-advisers take over the jobs of asset managers.

 

Asset managers to be removed and replaced by robots and artificial intelligence would not happne in na instant. According to Pensions and Investments Online, the era of robo-advisers is still early and the institutional asset management sector would not use the technology immediately.

According to Casey Quirk Boss of Money Mangement Jeffrey Levi, the trend is unlikely to receive mainstream implementation just yet as most advisers focus on liquid asset classes focused on long-term investments alone -- which would limit the AI's capability to advise short-term investors -- hence bringing back traditional financial advisers.

According to Mercer LLC Wealth Management Boss David Hyman, the individual investor is still of high value as the stage of advisory AI is still unsatisfactory with its results and are quite "disruptive." However, Hyman himself believes that the growth of the industry will rely on these new technologies.