How robo-advisors are transforming wealth management with automation and machine learning. | Victor Magallanes posted on the topic | LinkedIn (2024)

🤖🤝👩🏻💼Blending Human Expertise and Robo-Advisory Technology for Smarter, More Accessible Financial PlanningAs a dedicated financial advisor, I've witnessed the transformative impact that robo-advisors have had on the industry and, more importantly, on the value I can bring to my clients. Robo-advisors have democratized financial planning, making wealth management services more accessible to a broader audience.Robo advisors started rising in popularity in 2016. The “OG” robos were Stashaway and AutoWealth, but lots of banks and startups jumped on the bandwagon in the past couple of years.These automated platforms perform functions such as portfolio allocation and rebalancing, leveraging algorithms to make data-driven decisions. This automation allows me to focus on what really matters—building relationships with my clients and offering personalized, strategic advice that extends beyond numbers and percentages.Furthermore, the efficiency of robo-advisors translates to lower operational costs, and those savings often get passed on to you, the client. So, you're not only getting an optimized investment strategy but also a more cost-effective one.While some may see robo-advisors as competition, I view them as partners in delivering comprehensive financial solutions. They handle the quantitative analysis, freeing me to tackle the qualitative aspects like understanding your financial goals, risk appetite, and life circ*mstances.Interested in a hybrid approach that combines the best of automated efficiency and personalized advice? Let's connect and explore how a robo-advisor could complement your financial strategy.👍🏻~Follow Hazel Wong, LinkedIn Financial Consultant TT: @financenuggets IG: @financenuggetss#roboadvisor

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Good convo HollyThe context we must not overlook is getting help on your finances in the UK is not the status quo and…If you do want to get help, it’s hard to know where to go and…For those that do find help it is often not accessible and affordable.Your discoverability point is very relevant. You know my views on my time at abrdn, we had a lovely modern digital advice experience working under the Standard Life brand, we could not shout about it given we knew that brand name was going due to other Group context. As soon as the name changed… well the rest is history now!I agree digital is better than hybrid as a name - digital doesn’t mean cheaper and inferior, it should read as convenient and modern. It is would also be wrong to call other advice ‘traditional’ advice, I sometimes use the phrase hand crafted (although my team take the mick out of me for saying that), more to illustrate how it is created and to acknowledge it has value.Regardless, Simon is right the customer doesn’t care, but your point around a category does resonate, to get the discoverability point sorted to ensure this can become the norm as another option to help people.I like Ruth's ‘challenger’ concept too.

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Gone are the days of expensive human advisors and confusing financial jargon. Robo-advisor platforms are democratizing investing, making it accessible and effective for everyone.This article dives into the world of robo-advisors, exploring their benefits and the exciting future they hold. (Sudeep Srivastava, Appinventiv)Robo-advisor platforms are a game-changer for individual investors. They offer a smart, affordable, and convenient way to grow your wealth, regardless of your investment experience.https://lnkd.in/ev7zu_Cy#MakingFinTechMobile #RoboAdvisor #FintechBusiness #FintechInnovation #FintechSolutions

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Explore the benefits of hybrid robo-advisors with Finance Strategists. Our comprehensive guide explains how hybrid models combine technology-driven automation with personalized human guidance, offering investors a balanced approach to wealth management and financial planning.View our guide: https://lnkd.in/d6HWxGyP#financestrategists #learnfinance #financegoals #financeblogger #financecoach

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Robo-advisory services are the future of financial planning—With automated solutions that leverage real-time data, these services will empower clients to make accurate investment decisions while minimizing credit risk associated with investment choices. #Automation #AI #RoboAdvisory #SoftwareAndTech #PrivateEquity

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In today's rapidly evolving technological landscape, financial management plays a crucial role in the success of any technology company. Just as a pilot relies on instrument panels to navigate through turbulent skies, tech companies must have a solid financial management system in place to steer them towards their goals and weather any financial storms that may arise.

What is robo-advice? And what's it got to do with toasters? Robo advice is quite possibly the least popular descriptor of any service I've ever seen, being not that 'robo-y' and not that 'advice-y'. But 'online discretionary portfolios' didn't quite cut it as a funky consumer-first slogan back in 2011. As much as we look to the future and emerging hybrid models, which blend the best of people and tech to offer flexible services for those in saving-up mode (and not the more complex retirement), there is a problem with stepping away from the descriptor 'robo advice'. Last year we ran some tests at Boring Money to start to showcase some of the more modern digital advice offerings from the likes of Wealth Wizards Octopus Money and HUB Group of companies . But a big problem is one of discoverability. You can't wade out into the world wide web telling people about the benefits of one digital advice service over another, because no-one has a clue what digital advice is. So you lose them. It would be like John Lewis trying to sell a toaster in 1900. You cant sell something if no-one knows what it is. Before any of these groups can run large cost-effective digital advertising and acquisitions campaigns, first they need to 'create the category'. This is a hard long slog as we have seen with both abrdn and Vanguard pulling first launches from the market. Today it's significantly cheaper to bring people to you if you talk about robo advice than it is if you talk about digital or hybrid advice. That's an economic truth. And so this term will be a sticky albeit imprecise one which lingers on. As much as we might hate the term 'robo', there's a lot of work to be done - ideally in a collaborative manner - to create the new category of digital or hybrid advice. And to start to tell people that they do have choices when it comes to sources of help. This will involve consensus about a term we're all going to use as we create the category. And that's not going to be easy!Much like in 2003 when 50% of people's brain space seemed to be taken up in arguing about the definition of 'wrap' versus 'supermarket' I hope we just agree a naming convention quickly - and then got on with the important stuff which is articulating what it does and how it helps. For what it's worth I favour digital advice as hybrid's association with cars is too entrenched in the consumer brain! I know it's digital plus human but we can deal with that as we create the category...?? Until we have that category the national press won't use it and Google won't help us. And the Advice Gap won't shrink quickly enough...?Ruth Handco*ck Ben Hampton Andrew Firth Rob Hudson Caroline Connellan Simon Bussy Giovanni Daprà Adam Price James McManus Victor Trokoudes Andy Russell#robo #fintech #digitaladvice #hybridadvice #roboadvice #investments #advicegap #createthecategory https://lnkd.in/eWurfqeV

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