Wealthy bank customers are beginning to accept the advice of robotics consultants, and in order to compete for these customers, many banks are actively launching their own version of automated investment technology. Kendra Thompson, managing director of Accenture, a consulting firm, told Bloomberg that millennials and small investors are not the only customers who use robotics consultants. At Charles Schwab, approximately 15% of automated portfolio customers have more than $1 million in managed assets. Thompson said: "This is real money flow. You see customers with more money are trying new technologies. They put some of their money into robot consultants and try." The technology is being offered by a number of agencies, including Wealthfront Inc and Betterment LLC, and is relatively inexpensive. Wealthfront was one of the first smart investment consultants to be created in January 2007 in Palo Alto, Silicon Valley, California. The company selects a basket of ETFs based on investor risk preferences, covering US and international equities, bonds, real estate funds and commodity funds. Its investment philosophy is based on modern portfolio theory, focusing on the allocation of large-scale assets rather than individual stocks. Betterment was also one of the earliest smart investment consultants, founded in 2008 in New York, USA. Its investment philosophy is similar to Wealthfront, and it also focuses on the allocation of diversified assets. On the Wealthfront platform, there is no charge for investments of less than $10,000, and more than this amount is charged 0.25% per year. Betterment charges a fee of 0.15%-0.35% based on the size of the portfolio. Both companies charge an additional 0.15% for the underlying ETF investment. Therefore, the cost of retail investors does not add up to 0.5%, which is much lower than the industry's usual 1.5%-2% investment consulting and management fees. As this low-cost service becomes more and more recognized by the public, traditional brokers are facing challenges. Last September, the Flower Bank issued a report stating that smart financial management is increasingly loved by young investors and is expected to become a trillion-level industry in the future. Citi said that with the advent of robots, there is downward pressure on consulting fees in the financial advisory industry. Morgan Stanley, Bank of America and Wells Fargo employ a total of 46,000 human consultants. These companies are planning to use more artificial intelligence to replace traditional employees. Deutsche Bank announced last year that it will launch a computerized investment advisory service to follow the trend of investment in robotics consultants such as BlackRock. Deutsche Bank launched a robot consultant called Anlage Finder, which is one of the bank's network investment platform expansion services. The consultant will use the questionnaire and computer designed program algorithms to provide advice to the bank's network investment platform clients on the stock portfolio. Deutsche Bank believes that AnlageFinder is not only suitable for investment novices, but also for experienced investors. It informs customers of potential investment risks, such as focusing too heavily on certain sectors and highlighting other investment options. Banks will soon realize that because they charge a relatively high fee, they must provide services that are better than their competitors. After all, the service fees charged by these robot consultants are very low. Thompson pointed out that technology will make consultants look smarter, better, stronger, and more in control. 8 Way Rf Splitter,8 Way Power Divider,Power Divider Splitter,Wideband Power Divider Chengdu Zysen Technology Co., Ltd. , https://www.zysenmw.com