Wharton PPI B-School for Public Policy Seminar Summaries



Download Full Text (823 KB)

Seminar Date

Fall 10-20-2017

Publication Date

Fall 9-24-2019


In general, a robo advisor can be defined as an automated service that ranks, or matches, consumers to financial products on a personalized basis, sometimes in addition to providing related services such as educating consumers and selling products to them. Often associated with web-based financial investment services, a robo advisor can also include consumer financial product intermediaries such as automated mortgage brokers and insurance exchanges, as well as lead generation services such as Zillow, NerdWallet, and Mint.com. Although investment-focused robo advisors have received the most scrutiny from regulators, the same promises and regulatory concerns raised by investment robo advisors apply to their insurance and banking counterparts. The benefit of defining robo advisors as a general category of tools that span different financial services sectors is that an inclusive approach will encourage more cross-sharing and collaborative thinking to tackle similar challenges and opportunities, including regulatory questions.


This work is licensed under the Creative Commons Attribution-NonCommercial 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc/4.0/ or send a letter to Creative Commons, PO Box 1866, Mountain View, CA 94042, USA.


Business Law, Public Responsibility, and Ethics | Economic Policy | Finance | Legal Theory | Public Affairs | Technology and Innovation


robo advisor, investment, regulation, algorithm, banking, financial products, information technology, choice architecture

Summary: Regulating Robo Advice Across the Financial Services Industry