Using historical Statista data, PwC has forecasted that the amount of assets being managed by robo-advisers in 2027 will be more than double the $2.5trn figure recorded last year.

The survey said the technology and artificial intelligence (AI) developments, including robo-advice, represented “an inflection moment for wealth and asset management”.

Source: PwC

Making time for tech

PwC noted in the survey that “adoption has been slower” in certain markets when it comes to utilising robo-advice solutions.

In order to keep pace with technological advancements, PwC said wealth managers should be considering more outsourcing of more non-client-facing, mid office and back office requirements if possible.

It added wealth managers could also consider expanding their offerings.

“Broaden your retail presence through AI and robo-advice as a way to offer the kinds of personalised solutions that would once have been reserved for high net worth clients, but remember that the need to sustain a hybrid human and digital delivery model will remain.”

Source: Professional Advisor