More affluent investors seek guidance from robo-advisors

Robots are slowly creeping their way into retail, restaurants, hospitals and now, they are starting to show a presence on Wall Street. Although some banks have argued that wealthier individuals will'always demand face-to-face advice', many high-net worth investors are looking to robo-advisors for guidance in the market. New York-based Betterment has revealed that not only does its digital employee work with thousands of customers, but'a number of them are worth more than $10 million under management each.' Although some banks have argued that wealthier individuals will'always demand face-to-face advice', many high-net worth investors are looking to robo-advisers for guidance in the market AI advisors generate investment advice using computer programs, at half the rate of human brokers. Roughly 15 percent of'robo-clients' at Charles Schwab Corp. have at least $1 million in the company, Bloomberg writes, and the trend is increasing across the board.