Contrary to what you might think, traditional wealth managers and online investment advisors—known colloquially as "robo-advisors"—don't hate each other.
In fact, the sentiment between the two models borders on admiration.
A recent report from MyPrivateBanking Research suggested that traditional wealth management firms are late in realizing the threats posed by robo-advisors.
According to the report, assets under management for all registered investment advisors is said to be about $5 trillion. Robo-advisors presently hold only $14 billion of those assets, but their numbers are growing because of lower account thresholds and popularity with tech-savvy young professionals in the asset accumulation phase of their career.