In the face of decreasing margins and growing regulatory costs and scrutiny, wealth management firms are seeking new sources of revenue by targeting mass affluent and millennial investors. Fintechs, on the other hand, are wooing technology-savvy high-net-worth investors who want a more hands-on approach to managing their wealth.
The infographic below reveals next steps in the evolution of wealth management industry: How robo advice can attract younger investors who can eventually move to customized advice. It also details the path that firms must follow to make the transition to hybrid advisory models.
