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B2B route to robo advice recommended

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Wealth management firm Celent has released a new report titled Robo in a Box: The UK Adviser and the Future of B2B Robo Advice.

The report was written by Will Trout, a Senior Analyst with Celent’s Wealth Management practice. B2B robo advice platforms, particularly ‘robo in a box’ solutions driven by application programming interfaces (APIs), are reshaping the way investments advice is delivered in the UK, the firm writes.

While the direct-to-consumer (D2C) robo advice market in the UK is crowded, UK advisers are just starting to embrace a business-to-business or ‘hybrid’ approach to delivery. B2B robo advice is a way to serve younger clients as well as those who may never come into much money at all. Although the task of integrating data across large organizations should not be underestimated, getting institutions comfortable with storing client data outside firm walls remains the real challenge.

“Not every adviser seeks to grow their business, but UK advisers whose ambitions extend beyond the golf course are looking to B2B robo advice as a way to capture future generations of clients,” says Trout.

“While D2C robos take a hard-coded approach to advice delivery, the light architectural footprint (‘Code it on the fly’) of the B2B model represents the best way of helping providers respond to shifting client demands and market conditions," he adds.

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