Wharton Pension Research Council Working Papers

The Emergence of the Robo-advisor

Jill E. Fisch, University of Pennsylvania Law School
Marion Labouré, Harvard University
John A. Turner, Pension Policy Center

This Working Paper is part of a forthcoming publication, entitled The Disruptive Impact of FinTech on Retirement Systems.


This volume examines how technology is transforming financial applications, and how FinTech promises a similar revolution in the retirement planning processes. Robo-advisors and mobile savings apps are a few harbingers of innovations to come. Nevertheless, these changes will bring with them new ethical and regulatory considerations, design challenges related to promoting adoption by an older population less trusting of technology, and concerns over data security and privacy. Our contributors take stock of the disruptive impact of financial technology on retirement planning, saving, investment, and decumulation; and it also highlights issues that regulators, plan sponsors, academics, and policymakers must consider as retirement practices evolve at a rapid pace.


Date Posted: 06 February 2019