Simon Binney: It's time to pull the plug on the term 'robo-advice'

Change the vernacular

clock • 6 min read

'Robo-advice' is an overused, misunderstood term that has become a catch-all for advisory products that involve a digital process and so, argues Simon Binney, it is time to change the vernacular

It is time to draw a line in the sand. ‘Robo-advice' is an overused, misunderstood term that has become the catch-all for advisory products that involve a digital process. But it's not useful. It doesn't reflect the breadth of solutions available - both for professional advisers and direct to consumers. As the market develops at a rapid rate, as more consumers opt for a robo-advice option and as advisory firms shift their models towards automated support, there needs to be a change in the vernacular so that we put an end to this confusion. The term ‘robo-advice' has been claimed by ma...

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