New Wave Asset Managers: Google, Amazon, Says KPMG

Could the asset manager of the future be a robot from Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) or a drone stock broker compiled from Amazon.com, Inc. (NASDAQ:AMZN)’s recommendation algorithms? Yes, according to a new study from KPMG, and human asset managers are behind the curve to embrace technology. The report predicted that “most people will buy investment products on-line rather than through a face-to-face adviser.  Customers will also buy based on their own research supported by crowd-sourced opinions on ‘TripAdvisor type’ websites.” Such websites are known for their lack of human interaction. Asset managers of tomorrow must focus on building better relation…