Robo-advice seen posing threat to fund houses

Most product distributors will implement robo-advice in some form in the next 12 to 18 months, potentially posing a threat to asset managers, argued a consultant.  The growing shift by wealth managers and advisers into manufacturing is worrying for fund houses, which do not have that direct relationship with the clients, said Mark Wightman, partner for wealth and asset management advisory in Asia Pacific at EY.  It works the other way too, he noted, with asset managers – such as…