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By Thomas Steiger*, Chief Executive Officer of VP Bank (Luxembourg) SA
Digitalisation has called into question one of the cornerstones of the banking business, i.e. traditional asset management. Media experts and analysts predict that robo-advisors will revolutionise the industry and replace personal advisors. Will that really happen?
Back in May 2015, The Economist published an article entitled “Human wealth advisors are going out of fashion”. This headline in the prestigious British weekly neatly summed up a viewpoint that has been vociferously proclaimed by many media experts and trend forecasters. Going forward, robo-advisors will play an increasingly greater role in asset management and compete against human advisors. What should one make of this...
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