How to hold 1,000 hands: Robo CEOs lay out a stark choice for traditional advisors at MarketCounsel Summit
By Dave DeVoe
Given the hundreds of millions venture capital has bet on so-called robo-advisor companies, Las Vegas seems like the perfect venue for a discussion on the potential success of digitized wealth management. Although they only have captured only $16 billion in AUM of a multi-trillion dollar market, they are a disruptive innovation that could potentially alter the completion of wealth management over the next several years.
Joe Duran, chief executive of United Capital Financial Advisers Jon Stein, chief executive of Betterment Inc.; and Jon Michel, head of CircleBlack sat down together at the MarketCounsel Summit at the Four Seasons hotel last Wednesday in a session called “Revenge of the Nerds” to give the audience of 500 attendees a better understanding of how this new investor option may affect the traditional wealth managers.