RIAs Not Worried About Robo Competition

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Latest research from Shareholders Service Group shows that 80% of advisors do not fear Robo’s; rather, RIAs see the automation opportunity that digital advice platforms provide

Despite the tremendous hype about consumer Robos potentially disrupting the advice industry these past several years, independent RIAs are confident in their approach and service models to withstand this new type of competition.

Shareholders Service Group (SSG) announced today the results of its annual advisor survey in preparation for its 6th annual national conference to be held later this week, April 26-28, 2017 in San Diego, CA.

Key findings from the research show that RIAs that custody with SSG are not worried about losing clients to Robo platforms, rather these forward looking advisors see the business benefits that this new technology can bring to their practices.

According to the research, 80% of RIAs asked said that they were “not concerned about Robo advisors,” while 50% indicated that they see opportunity in leveraging white-labeled robo platforms to enhance their businesses.

“Despite the tremendous hype about consumer Robos potentially disrupting the advice industry these past several years, independent RIAs are confident in their approach and service models to withstand this new type of competition,” said Dan Skiles, President of SSG. “However, as prudent business owners, many RIAs do see the potential benefits of integrating robo technology to make their firms more efficient and to be able to attract new client segments.”

Additional findings from the annual research study show that RIAs are optimistic about their growth opportunities and will be investing in their businesses to take advantage. Top areas of investment to drive their growth goals include investing in new technology and spending more on marketing and events.

“These key themes uncovered by our research with RIAs will be the focus for the content we have programmed for our conference this year,” said Barry Boyte, SSG’s Executive VP of marketing. “We are very excited to host over 300 attendees and 28 top vendors for 2 1/2 days of business and practice management content, networking and technology demonstrations.

Highlighting the first day will be a series of technology “TED” talks from leading tech vendors facilitated by industry technology guru, Joel Bruckenstein. Other technology content will feature a fireside chat with Pershing CIO, Ram Nagappan, an introduction to Morningstar Investment Services, a Morningstar-managed account platform now available through SSG, along with a demonstration of Jemstep’s Advisor Pro, white-labeled Robo platform, which has recently been integrated directly into SSG and is available to RIAs working with SSG at preferred pricing.

“This type of industry research goes a long to inform how we evolve our custody platform and invest in the key programs, technologies and service models to continue to fuel advisor success,” said Skiles. “We look forward to showcasing the research at our conference this week and bringing the SSG community together.”

To learn more about the upcoming SSG Conference agenda, log onto http://www.ssgconference.com.

About Shareholders Service Group
Shareholders Service Group (SSG), http://www.ssginstitutional.com, provides brokerage and custodial services exclusively for independent registered investment advisors (RIAs). SSG provides a full range of brokerage and back office service and support with a robust technology platform, access to a full suite of investment vehicles, and a highly experienced service team that only serves independent RIAs. The company was founded in 2002, and currently serves approximately 1,500 advisory firms throughout the country. The management team began serving independent RIAs in the late 1980s.

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Timothy Welsh
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