ABN Amro Investment Solutions head of manager research, Olivier Couvreur, said financial services firms needed to use their own expertise in the field to develop solutions instead of leaving it to “smart companies”.
“Robo advisory is growing and is based on pure quantitative metrics… we can input our own knowledge to mix quantitative and qualitative factors in a more efficient way,” he said.
“You would need two solutions for advice – a simple automatic path and then a customised solution. And then the business would need a dedicated fund solution sector as a more exclusive part.”
Couvreur said if financial services firms did not move into the fintech space, other industries and companies such as Google and Amazon could move in at a lower price.
Please watch the video above to hear all of Couvreur’s views.