Robo-advisory Services to touch $450 Billion by 2020

Technology disruption is transforming the world of finance. You can do your banking activities online and able us the mobile applications of various banks for desired banking services. Of late, the advisory businesses are booming due to the digital transformation.

Robo-advisory is an automated investment advice platform to assist consumers over financial planning. The advent of robo-advisory services is helping you make a smarter decision regarding investment. The machines are taking over humans in managerial and advisory services. This phenomenon has made the job of financial planner and consultants.

 Investment is a complex thing and you need to get advice from experts to gain. The algorithm-based investment counseling would be safe for you as tech-enabled machines are taking the decision based on your input.

You need to submit your financial details including income, taxes, financial goals and investment to robo-advisory services. These services will prepare a portfolio of investment options for you. Tech-enabled robo-advisory services are efficient to enough take care of the three dimensions of wealth management: financial planning, execution, and tracking. 

According to Statista, Assets under Management in the Robo-Advisors segment amounts to US$980,541m in 2019. Assets under management are expected to show an annual growth rate (CAGR 2019-2023) of 27.0% resulting in the total amount of US$2,552,265m by 2023. Globally will be about $450 billion by 2020, as per the European Banking Authority.

This sector has been growing at a faster rate across the world. The scenario is also optimistic in India. The number of users is slated to touch 2,16,000 by 2023. The technology advancement, digital transformation, penetration of mobile & internet are the major reasons for the growth of the robo-advisory services across the world.

 Advantages of Robo-Advisory Services

• Your Money & Data are Safe: You can consider these services for purchasing financial products and your money and data will be in safe hands. All your investments are safe and you can transact with the services company.
• Easy Interface: No need to go through a much complex process to invest or to purchase financial products. The tech-enabled services come with an easy interface for users to complete their process seamlessly.
• Costing Factor: Investors always curious about the brokerage or consulting charges for any financial services. These services are much cheaper compared to other services available in the market. This is because of technology advancement.
• Less Paperwork: When you dealt with your financial products through these services sometimes it is almost zero paperwork for you. E-documents could be provided to complete your KYC processes.
•  

The combination of technological advancement and innovations has brought many advanced solutions in the field of personal finance and fintech world. These solutions are not only easy to use but also to achieve your financial goals. You can plan your finances, execute and review your financial portfolio.

For more information on software product development services, please do write to us at info@learntechx.com. Follow us on Facebook, Twitter & LinkedIn.