Assets managed or advised on via robo-advisers and other automated services have increased eight-fold over the last three years, the new Financial Conduct Review (FCA) of the advice market shows.
Automated services advised on £3.2 billion of assets in Q3 2019, up from £0.4 billion in Q3 2016, the FCA said.
Consumer awareness of automated advice has also been increasing, with 19 percent of consumers reporting having heard of these services, compared to 10 percent in 2017.
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