傳統理財顧問面對理財機器人挑戰之研究

網路科技的發達、行動裝置的普遍，大幅度改變金融交易的服務模式，科技應用直接威脅傳統金融機構實體通路的存在，消費者在經歷全球金融海嘯，對金融機構信任度降低，非屬金融業的科技公司崛起，專注於消費者需求，提供更具效率的服務。傳統理財顧問服務集中在高淨值客戶，理財機器人以較低的成本，提供具有品質的投資建議及管理服務，經營未被滿足之市場；另外，高淨值的投資人，對金融機構數位化的能力越來越重視，本研究將針對國外理財機器人的實務發展進行分析，傳統理財顧問與理財機器人之間的關係，如何改變以強化自身優勢，維持競爭力，進而擴大市場。本文採取文獻分析法及個案研究法之研究方法，針對傳統理財顧問及理財機器人，進行策略、商業模式之比較分析。其中，理財機器人以美國發展成熟之Betterment、Wealthfront及中國大陸的螞蟻聚寶為分析主軸。研究結論及建議，就企業營運面，基本數位化的能力，能得到客戶的肯定，但達到更高層次的數位化，獲利範圍可從底層到高端，推升客戶的資產投入。第二，新的訂價模式及精準的客製化建議，更能獲得荷包的佔有率。第三，理財顧問除了充實自身的數位化技能外，亦必需選擇企業能以擁抱數位化的營運思惟與方式，全面更新企業的活動，規劃短、中、長期的數位化策略。在財富管理行業中，有一些事是數位科技目前無法克服的，但不代表永遠如此，唯有讓企業與個人融合在數位科技中，才能在混亂競爭的環境中繁衍興盛。

關鍵字

理財顧問；理財機器人；數位化；金融科技

並列摘要

The development of internet technology and the widespread usage of mobile devices have greatly changed the way financial transaction services are provided. Technology has directly threatened the existence of the Brick and Mortar route of financial institutions. The trust of clients has also decreased after Global Financial Crisis. On the other hand, the rise of nonfinancial technology corporations that focus on consumer needs have provided more efficient service. While traditional financial advisors target on individuals with high net worth, Robo-Advisors operate the market with unmet needs through lowering costs and providing quality investment advice as well as management services. Moreover, the clients of tranditional financial advosirs (i.e., high net worth individuals) are paying more and more attention to the digitalization of financial institutions. The purpose of this study is to provide a comparative analysis of strategies and business models of tranditional financial advisors and Robo-Advisors, including Betterment (U.S.), Wealthfront (U.S.), and Ant Fortune (China). This study further provides suggestions for tranditional financial advsisors regarding changes should be implemented in order to strengthen their superiority, to maintain competition, and to increase market shares. Case study is provided. The findings and advice are as follows: First, digitalization on a basic level can gain the recognition of clients while digitalization on a higher level can allow the growth of profit and the increase of clients’ investment propensity. Second, new pricing model and personalized advice for clients can increase more share of wallet. Thirds, when the technology-centered world continues to evolve, and the need for "humans" is decreasing, there are still somethings digitalization can't overcome in the wealth management industry. However, it doesn't mean that it will stay that way forever. Only through merging corporations and oneself into digitalization can tranditional financial advisors succeed in a chaotic competitive environment.