The advent of robo-advisers in the Middle East and North Africa region has encouraged savings, improved investor decisions, democratised investing and promoted financial inclusion, according to experts speaking at a personal finance webinar on Wednesday.
“Ten years from now, people will spend less time with human financial advisers,” Michele Ferrario, co-founder and chief executive of digital wealth manager StashAway, told the Robo Advisers and Mass Affluent Savings in Mena webinar, which was organised by Bahrain-based FinTech Robos.
“Robo-advisory tools enable people with less financial literacy to get access to professionally managed investment platforms.”
Robo-advisers are digital investment platforms that calculate an investor’s risk tolerance based on a series of questions. Using automated algorithms, they then assign investors a tailored investment portfolio of exchange-traded funds or index funds. Typically, they charge lower fees compared with traditional financial advisers and wealth managers.
Read More : https://www.thenationalnews.com/business/money/2022/05/19/robo-advisers-democratise-investing-and-promote-financial-inclusion-experts-say/
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