Surprise! Baby Boomers Pushing Robo-Investment Growth
February 27, 2018 by Brian O'Connell
Conventional wisdom holds that millennials are driving the growth of robotics-based investment advice, but that’s not entirely true.
For sure, younger investors are naturally drawn to robo-advisory services. The digital advice market is pegged to reach $500 billion in assets under management by 2020, and will rise further to $2.2 trillion by 2022, according to KPMG. Tech-savvy millennials have, in great numbers, climbed aboard the robo bandwagon.
But times change and, these days, it’s actually baby boomers who might be the fastest-growing demographic for robo-advice, according to T Rowe Price.
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