Brave new world: Should we all be scared of robo-advice?

Charles Stanley's head of investment management shares his views

Gary Teper, head of investment management at Charles Stanley, argues it would be foolish for wealth managers to ignore the rise of robo-advice propositions.

I recently attended a wealth management conference where a member of the audience asked a panel of industry grandees whether they were concerned about the rise of robo-advisers and if it would pose a threat to traditional models in the future. I was surprised when the panel quite nonchalantly dismissed robo-advice as a fringe proposition that was unlikely to materially impact their businesses. This could prove to be a strategic error. M&A, rebrands and Lloyds push: The biggest wealth management stories in recent months Firstly, it is worth defining what we mean by robo-adviser. Sim...