Younger investors could spend billions of dollars for financial advice online, according to a new report, but the biggest consumers of these services may be traditional firms looking to expand.
A recent report by the consulting firm Aite Group found that if the investors between 20 and 49 who say they would pay for low-cost online advice did so today, firms in that space could realize a total of $2 to $4 billion in annual revenue. Firms that provide more active investment management services or help advisers digitize their offerings could see several billion dollars more in revenue.
The report, which looked at 18 of the dozens of online advice platforms, cautioned that a massive shift in behavior would have to oc
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