Source: Bloomberg

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12 Sep Source: Bloomberg

By the end of 2015, U.S. automated financial services, known as robo-advisers, managed $50 billion in assets, up from $16 billion in 2014. The market has been estimated to grow to $2.2 trillion by 2020. Robo-advisers do what flesh-and-blood financial advisers do but at a far lower cost. The field already has attracted major firms such as Vanguard, Schwab, and BlackRock.