Voya Launches Human-Tech Hybrid Investing Platform

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Voya Launches Human-Tech Hybrid Investing Platform

12th July 2019 compliance concept of privacy management News risk tolerance Security strategy 0

The new tool will bring automated investing to retail wealth management clients, with support from human advisors.

Voya Financial Advisors, the retail wealth management arm of Voya Financial, is launching a new digital advice platform to support its advisors and retail clients, according to an announcement. Called Voya Digital Adviser, the application provides investors with automated, fee-based portfolios managed by the firm.

Although the new application is software-based and automated, Voya emphasized that it doesn’t want to cut human advisors out of the wealth management equation. “Our new platform ensures that the advisor remains integral to the process,” said Tom Halloran, president of Voya Financial Advisors, in a statement. “This enables a client to receive the best of both worlds — access to self-directed investment advice model portfolios, along with the value and expertise of a personal advisor relationship.”

Neither representative was available to respond to questions, including whether the application was built in-house or is from a third-party white-label technology provider or address why the company decided not to make Voya Digital Adviser directly available to consumers.

The new application requires investors to input their risk tolerance and goals, basic elements of an automated investing platform. In addition, it provides automatic rebalancing for investors, who must meet an account minimum of $5,000. Investors will also have at least one meeting per year with an advisor, according to the announcement.

All credits for this article to the source below:

https://www.wealthmanagement.com/technology/voya-launches-human-tech-hybrid-investing-platform

 

 

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