Challenges in Integrating Robo-Advisors Into Wealth Management
Pawan Pant, Kaushal Kishore Kishore, Swati Priya, Sunil Kant Mishra, Kavita Dahiya · Advances in logistics, operations, and management science book series · 2024
The incorporation of robo-advisors into wealth management signifies a revolutionary change in the provision of financial services. An outline of the difficulties involved in this integration is given in this abstract. Issues ranging from client trust and the changing role of human advisors to regulatory obstacles and data security concerns are brought to light by the growing prevalence of robo-advisory platforms. This abstract examines the various obstacles that fintech companies and financial institutions must overcome to integrate robo-advisors into wealth management procedures smoothly. It explores the complexities of managing legal frameworks, protecting personal information, and creating an atmosphere that encourages cooperation between technology and human knowledge. The abstract also emphasizes how crucial it is to handle ethical issues and uphold client trust in this ever-changing environment. Industry participants hoping to fully utilize robo-advisors while providing dependable and moral wealth management solutions must comprehend and overcome these obstacles.