Opinions on robo-advisors range from fear of competition to not impacting an advisor’s business. Regardless of where you are on the opinion spectrum, you should take this time to review areas of the robo-advisor’s success and compare them to your business model and infrastructure. Don’t dismiss their arrival and success as a fad that will disappear in a few years. This is a good time to ponder how their success translates to what your firm can do.

If you feel the review process is overwhelming, start by using questions about robo-advisors and your firm to determine areas that may necessitate change. Your review may find that many of the successful traits of robo-advisors will not be right for your firm.

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