Can ‘robo advice’ bridge the advice gap?

By Neasa MacErlean

Recognising that financial products are increasingly being sold without advice, HM Treasury and the Financial Conduct Authority are jointly consulting on how the ‘advice gap’ can be overcome, particularly through using ‘robo-advice’. So-called robo-advisors provide automated, algorithm-based portfolio management advice through online wealth management channels. They use the same software as traditional advisors, without the additional human input.