San Francisco, California, March 20, 2018: The global market for robo advisors is thriving on account of the increasing need for financial advice in the contemporary scenario of economic instability. Robo advisors refer to online entities that offer financial advice with minimal human intervention. The financial advice digitally dispelled by robo advisors is based on mathematical algorithms and rules. Since the rates charged by professional financial planners and advisory bodies are exorbitantly high, the market for robo advisors has gained momentum in recent times. A report by TMR Research analyzes key dynamics of the global market for robo advisors, and subsequently foretells a trajectory of growth for the market. The report titled ‘Robo Advisors Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025’ is an apt source to understand the drivers, restraints, and opportunities that float in the market.
The success rate of robo advisors in providing actionable financial advice has been commendably high, which has helped in earning the trust of the masses. Moreover, the rates charged by robo advisors for providing financial advice are much lower than what the professional financial planners charge. The aforementioned factors have played an instrumental role in driving demand within the global market. Moreover, the efforts made by banks to integrate robo advisors with their ambit of functionality has also enhanced the prospects of market growth.
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The market for robo advisors in North America is expected to register a robust growth rate over the coming years. This essentially owes to a large population of wealthy individuals who require efficient management of their financial resources.
Hedgeable, Inc. (U.S.), Betterment Holdings Inc. (U.S.), and Bambu (Singapore) are some of the prominent players in the global robo advisors market.