What a huge advance it is that the financial sector now has robots to relieve the ever-growing pressure of regulation. Almost everyone handling or processing personal data now faces vastly increased compliance requirements once the European Union’s General Data Protection Regulation
Private bankers and wealth managers have been competing amongst themselves for years, attempting to outdo one another in terms of offering the best service for the lowest fee; but today relatively low-cost disruptors, robo-advisors, are snatching away too much of that business. The remedy is a three-point strategy that proves that the value of the service offered by traditional providers justifies the higher fee.