Amazon, Google Are Ready To Disrupt BlackRocks Of The World, Says Moody’sMark Melin
The "Amazon effect" isn’t only about technical superiority disrupting retail stores. Increasingly, big tech firms such as Facebook, Apple and Alphabet (Google) are poised to disrupt and potentially displace incumbent asset management and financial services firms, particularly as passive forms of investing gains popularity. Several reports point out that the market changes, impacting brokerage firms, asset managers, banks, and insurance companies to different levels, are already occurring in a slow but steady fashion. The first step in the process, says Moody's, is for big tech to partner with the financial services firms.
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