Technology is the lifeblood of today’s organizations and this is even more true of the wealth management field. With the increased competition, those organizations having a vibrant technological system will be able to beat the competition. Since wealth managers manage many accounts of clients and involve managing huge sums of money, a capable Robo-advisor makes a big difference in seamless management of portfolios.

Robo-advisors are digital financial planning tools that are based on algorithms, with little to no human interaction. The investment decision-making process of Robo-advisors is purely based on the information gathered from clients, making error-free and unbiased investment decisions.

Robo-advisors offer wealth and portfolio management features of a financial advisors’ business, giving more autonomy and control to clients to gather information about their account. The lower dependency of the client on a financial advisor for account-related inquiries allows financial advisors to concentrate on critical tasks of portfolio management and other important activities.

Advantages of a Robo-Advisor:

One of the main advantages of using a Robo-advisor is its cost-effectiveness. The wealth management firm having a Robo-advisor platform has to just pay a monthly or yearly subscription fee and does not have to pay a recurring fee for managing the portfolio of each client. In some cases Robo-advisors are already included in the cost of a platform so there is no additional fee for the module. RIA time is valuable and is better spent building relationships and making wise portfolio investments. An investment in a Robo-advisor makes sense and feasible.

Unlike humans, the Robo-advisor is always available at your clients service, making it an ideal choice for fulfilling the clients’ and wealth management firms’ needs 24/7. Robo-advisors can assist in managing a range of portfolios consisting of different assets. Robo-advisors can help develop diversified portfolios, consist with the goals and risk level of a client, which can reduce the volatility and risk of the overall portfolio.

Ways to use modern technology:

The use of modern technology like Robo-advisors and portfolio management platforms can benefit the firm in the following ways:

1- With Robo-advisors and digital platforms like Advisor Engine, wealth management firms can make quick, paperless, online account opening and boost productivity by making improvements in various processes.

2- It is advisable that wealth management firms invest in a Client Relationship Management (CRM) platform which will help them improve workflow, increase productivity, and create performance reports. In today’s competitive markets, investing in CRM for Financial Advisors like Junxure — a powerful client relationship management platform — can help you fulfill all your client relationship needs, resulting in client satisfaction and retention.

3- Robo-advisor and wealth management platforms can help your firm in maintaining regulatory and risk management standards while managing portfolios.

4- The online secure vault provides access to important documents of your clients with just a click of a button. Documents can be shared with your clients as well with just a few clicks without finding email addresses and sending manual emails, allowing seamless communication with clients.


Automated financial planning is the future of financial advice as it blends cutting edge technology with human intelligence, which can create synergy and maximize value for both the firm as well as clients. Robo-advisors have a place in the toolkit of every RIA, and now is the best time to deploy them in your firm to get the advantages.

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