The “Robo-advisory Services Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Robo-advisory Services Market is expected to register a CAGR of approximately 40.3% during the forecast period (2021-2026).
- Betterment LLC
- Wealthfront Corporation
- The Vanguard Group, Inc.
- Charles Schwab & Co., Inc.
- BlackRock, Inc. (FutureAdvisor)
- FMR LLC (Fidelity Go)
- M1 Holdings Inc.
Key Market Trends
Investment Advisory Expected to Gain Maximum Traction
- Robo-advisory services majorly include investment advisory services related to the personal finance of individuals. Robo-advisors are rapidly filling the gaps created by human investment advisors, such as capability, capacity, and cost, majorly due to the increase in the adoption of digitization across the investment industry, coupled with the adoption of AI in robotics.
- FinTechs across the world rely upon both technology and personal advisory. They are rapidly creating robo-advisory services by adopting technologies such as AI and ML, which will offer accurate and transparent advisory services to the retail investors, which will further prevent them from making inaccurate investment decisions.
- In July 2019, Voya Financial launched a platform, which is a hybrid robo-advisor, designed to help its advisors become more efficient and be able to better communicate with the broker-dealer. The firm’s hybrid model will have an advantage because it’s not a direct-to-consumer.
North America Expected to Dominate the Market
- The North America region is expected to dominate the market owing to the presence of several market players in the region, such as Betterment LLC, Charles Schwab & Co., Inc., Wealthfront Inc., and Vanguard Group, amongst others. Also, the region has leaded other regions in terms of technological advancement and the robotics industry.
- The company’s major financial institutions are making product innovations and developments to leverage the first-mover advantage and gain maximum market traction. For instance, in January 2020, Citigroup unveiled a new digital Robo-advisor, which will provide free services to the Citi’s Priority customers who hold at least USD 50,000 in deposits or investments at the bank.
- Several financial institutions are still in the development phase to innovate and develop highly advanced platforms offering robo-advisory services to their customers. For instance, the Vanguard Group plans to launch a Robo-advisory service, which the company claims is expected to eliminate human advisory.
- Goldman Sachs is planning to launch digital wealth management services for customers with lesser investments, ranging from as low as USD 5,000 in 2020. Such initiatives and investments by companies in the region are expected to boost the market’s dominance in the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Digitization of the BFSI Industry
4.2.2 Cost-efficiency in Managing Personal Finance
4.3 Market Restraints
4.3.1 Lack of Human Expertise and Empathy
4.3.2 Nascency of the Technology
4.4 Industry Attractiveness – Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1 By Type of Services
5.1.1 Investment Advisors
5.1.2 Wealth Management
5.1.3 Retirement Planning
5.1.4 Tax-loss Harvesting
5.2.1 North America
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Betterment LLC
6.1.2 Wealthfront Corporation
6.1.3 The Vanguard Group, Inc.
6.1.4 Charles Schwab & Co., Inc.
6.1.5 BlackRock, Inc. (FutureAdvisor)
6.1.6 FMR LLC (Fidelity Go)
6.1.8 M1 Holdings Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/m4hf8s
Laura Wood, Senior Press Manager
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