According to the report analysis, ‘Latin America Robo-advisory Market (2015-2023)’ states that there are few key players which are presently functioning in this market more positively for registering the handsome amount of share by studying the government guidelines actively of the respective region for accomplishing the growing requirement of the clients includes Betterment LLC., Wealthfront, Charles Schwab Corporation, Personal Capital, FutureAdvisor and several others. Moreover, Latin America is flattering to be a significant market as technology has full-grown manifold in this region. In 2017, Latin America produced 6% of the revenue in the global robo-advisory market. Meanwhile, with the significant upsurge in the number of robo-advisors, the Latin American populace now get more convoluted in investment activities and think external from the box or the saving account. The robo-advisory market in Latin America is anticipated to rise at an overall compound annual growth rate (CAGR) of 53.68 % and by 2023; it will be valued at USD 4.48 Billion.
The IT and ITES market of Latin America has grown more significantly with the category of robo-advisory. Whereas, the robo-advisor or robo-advisers are a class of financial adviser that deliver advice on finance and investment management at an online platform with the restrained to minimal human intermediation. They provide digital financial advice which is majorly based on the algorithms and mathematical rule while, these algorithms are achieved by the specialized software and thus financial advice do not need any human body to advice. Moreover, by utilizing the algorithms the software automatically manage, allocate and improve the clients’ assets on the basis of risk preferences and desired target return. Furthermore, the key players of this market are dominating handsome amount of share and playing an important role by doing effective developments in the market strategies and policies which will be further beneficial in leading the fastest market growth in the forecasted period.
The market key players in Latin America have announced the partnerships for ruling across the globe and analyze the strategies and policies of international players for dominating the highest market share in the forecasted period.
Additionally, on the basis of type, the robo-advisory market in Latin America encompasses hybrid and pure robo-advisors. While, the Hybrid robo-advisors govern the market. Presently, the Latin American market though faced a downturn and is anticipated to bounce back in the near future. Furthermore, on the basis of client assets type, the robo-advisory market in Latin America comprises the mass prosperous, high-net-worth individuals, pension funds, insurance corporations and sovereign wealth funds. The bulk affluent sector has been the uppermost revenue producing as well as the fastest growing segment during the reviewed period.
For instance, the hybrid robo-advisory facilities upturn the competence of advisors about the number of clients attended per professional. This growing trend of hybrid solutions in the Latin America will also have an impact on the client charges in the market. Whereas, the automated investment advisory amenities are the key to transporting private banking services to the mass prosperous individuals at an inexpensive cost for both the bank and the clients. Therefore, in the near future, it is expected that the market of robo advisory in Latin America will grow more positively in the near future.
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Ankur Gupta, Head Marketing & Communications