Wharton PPI B-School for Public Policy Seminar Summaries
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Seminar Date
Fall 10-20-2017
Publication Date
Fall 9-24-2019
Summary
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.
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Disciplines
Business Law, Public Responsibility, and Ethics | Economic Policy | Finance | Legal Theory | Public Affairs | Technology and Innovation
Keywords
robo advisor, investment, regulation, algorithm, banking, financial products, information technology, choice architecture
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Business Law, Public Responsibility, and Ethics Commons, Economic Policy Commons, Finance Commons, Legal Theory Commons, Public Affairs Commons, Technology and Innovation Commons