As the robo-advisor marketplace becomes increasingly crowded, it is not surprising that innovators are beginning to explore alternative revenue generation models by addressing pain points that traditional investment advisors face. Wealthsimple’s recent partnership with Forstrong is an example of this, which offers advisors cost-effective access to Forstrong products with no minimum account size.
How Fintech Is Shaping the Future of Wealth Management
A report from the World Economic Forum predicts three possible scenarios for advisors.
News: Time to digitalise amid tightening margins
Wealth management firms, both independent and bank-backed ones, have seen their pre-tax profit margins decline in each region of the world in the past decade. This has been due to factors such as the push by regulators for greater transparency and investor protection, the rise of low-cost passive investment vehicles such as exchange-traded funds (ETFs) and increasing competition from financial technology (fintech) firms, according to Boston Consulting Group’s Global Wealth Report 2017.The report says the biggest declines in pre-tax