Another consulting report on the digital advice space this time from E&Y in Canada. In the report they explore how boomers and millennials want a more engaging and transparent customer experience that is technology led
Digital wealth management firms have introduced disruptive industry changes that are here to stay, and traditional players need to act quickly to determine how to stay competitive, says EY. While some have discounted the robo-advisor movement as no match to human investment advice, EY’s recent report, Advice goes virtual: how new digital investment services are changing the wealth management landscape , suggests otherwise. Digital entrants’ efforts to streamline the online client experience, provide greater transparency and lower prices for lower-end markets have gained traction and can’t be ignored by Canada’s wealth-management industry anymore.
http://www.ey.com/CA/en/Newsroom/News-releases/2015-Digital-investment-services-wealth-management