The robo-advisors taking over Wall Street: AI’s are now managing portfolios worth ‘tens of millions’ for high wealth customers
By Stacy Liberatore
Robots are slowly creeping their way into retail, restaurants, hospitals and now, they are starting to show a presence on Wall Street.
Although some banks have argued that wealthier individuals will ‘always demand face-to-face advice’, many high-net worth investors are looking to robo-advisors for guidance in the market.
New York-based Betterment has revealed that not only does its digital employee work with thousands of customers, but ‘a number of them are worth more than $10 million under management each.’