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Would YOU Trust a Robot with your Money?

Europa Trust Company Ltd
22 February, 2016

The way we manage money, investment portfolios, tax affairs, debts and financial planning could all be replaced by a robot undertaking the tasks for us. Europa Trust Company Ltd investigates this new developing global trend.

Within the last few years there has been a rapid global increase in advanced robotics, self-driving cars, artificial intelligence and "machine learning". These technologies will soon affect world economies as financial institutions look to implement these advances within a variety of industries. Financial firms in the USA, India, Australia, Canada and countries in Europe have already made use of "Robo-advice" and "Robo-advisors" 

Robo-advice is whereby automated advice, transactions and even whole jobs usually reserved for humans are replace by robotic and digital applications. A robo-advisor is an online service that provides automated, algorithm-based portfolio management advice without the use human financial planners.

Those who support the trend for robot advisors and robot advice claim there is no longer a need to use expensive advice from a human adviser and that a robot can weigh up financial decisions faster and with fewer mistakes.

The World Economic Forum (WEF) predicted last month that by 2020 the global assets under management of robo-advisers will be an estimated US$ 255 bn. In addition to this prediction a study by academics at Oxford University forecast that 35% of British jobs will be lost to robots within the next 15 years.

However, at Europa Trust Company Ltd, we still believe a personal touch to our business helps our clients achieve their objectives. This means a dedicated human team member is always assigned to YOU and YOUR personal structure needs.

Tags: Euro

About the Author

Europa Trust Company Ltd

At Europa, we provide bespoke company and fiduciary services to individuals, families, businesses and intermediaries at competitive professional rates. We can deliver and manage on a daily basis simple or complex corporate and trust structures in virtually any jurisdiction. Our extensive expertise and understanding of each structure's individual requirements is matched by a wide range of supporting services. www.europa.gi


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