Are wealth managers prepared for robot wars?

摘要

As the world gets wealthier it needs new solutions to wealth management. Ever since the mass affluent category was invented, banks have struggled to either define the group or serve it. But now, as Silvia Pavoni reports in this month's cover story (see page 22), financial technology companies are appealing to the mass affluent with a combination of robo-advisors and low fees. Firms such as Wealthfront in the US and Nutmeg in the UK are setting new standards that banks will have to either match or watch the market disappear.