InvestmentNews believes the DOL's fiduciary rule is going to force asset managers to buy or partner with a robo. Rob Foregger, co-founder of FinTech Collective portfolio company NextCapital, is featured talking about how these companies will move towards providing and monetizing an advice layer.
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Digital advice is poised to become the apple of asset managers' eyes
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As asset managers see more fee compression, due in part to the changing regulatory environment and more passive products, they will rely on technology to gain back lost fees, at the expense of wealth management firms, a Cerulli Associates report stated. At the same time, these companies will move toward providing, and monetizing, an advice layer, Mr. Foregger said
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