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If A.T. Kearney are right assets under management by robo advisers will increase 68% annually over the next 5 years to about $2.2 trillion. About half of the AUM is expected to come from money that's already invested and the rest from non-invested assets.
"The dramatic collapse of commission prices and the rise of automation means that institutional-grade tax-loss harvesting is now within the reach of all investors," reads a blog post from robo-adviser pioneer Wealthfront, whose claim to fame is programming a robot with all the wisdom of professor Burt Malkiel. Like any new trend involving computers that scares the bejeezus out of us older folks, we of course have the millennials to blame ... er ... thank for the growth of robo advisers, according to the research firm Hearts & Wallets, which attempted to, ahem, assess "the robo phenomenon through the prism of trend-setting Millennials."
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