When it comes to meeting a high standard of care for clients, robo advisors fall short, argues an influential critic of the digital advice platforms.
“It is easy to say that robo advisors are ‘fiduciaries’ in the sense that they are registered investment advisers and owe a duty of loyalty to their clients,” attorney Melanie Fein writes in one of four new papers devoted to the subject, delivered at a symposium at Oxford University on Tuesday.
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