ROBO advisory, the new way to go!
NOVEMBER 2014 • JEFF SCHLEGEL Tom White used to be a human financial advisor. Now he runs a fully automated virtual advisor called iQuantifi, and he’s embraced his new role. “We consider ourselves to be the only true robo advisor. We’re not afraid of that word because we’re here to help,” he said earlier this autumn during his allotted seven-minute presentation at Finovate, a conference in New York City showcasing the future of financial and banking technology. Robo advisors are a growing breed of low-cost, online-based start-ups providing financial advice and investment tools aimed mainly at mass affluent investors. Some people believe they could put a big hurt on the traditional advisory profession, but White says iQuantifi exists to serve a niche most advisors ignore. “We’re targeting young families and millennials who advisors aren’t targeting because they’re not profitable,”