Roboadvice a game-changer: Resnik
Paul Resnik, of risk profiling firm FinaMetrica, has released a guide to roboadvisers.
He said a number of roboadvice developers had approached his firm because it supplied the risk tolerance facility many used in their algorithms' calculations.
Resnik said he expected roboadvice to change the financial advice sector in lasting, subtle ways.
"It will soon be hard to imagine the way the world was before they existed. Roboadvisers are likely to be as great a disrupter to the delivery of financial advice as Uber is to public transport. It could be an expensive mistake to make an uninformed decision to operate a roboadviser or to choose to disregard or dismiss them."
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