Emanuel van Praag and Thierry van den Bergh offer valuable insights into how technological innovation is transforming financial services. This article equips financial professionals and legal experts with practical guidance to effectively and compliantly implement robo-advisory - automated financial advice driven by algorithms - and (semi-)automated wealth management, including:
- Definitions and types of robo-advisory and (semi-)automated wealth management according to ESMA and AFM;
- Practical guidance for robo-advisory: algorithm management, staff training, client onboarding, profile updates, behavior monitoring, and digital communication;
- Privacy and anti-money laundering risks in robo-advisory: compliance with GDPR and ESA guidelines for algorithms in client onboarding.
With robo-advisory being a rapidly growing trend, this article provides insight into current regulations and offers practical steps to successfully navigate a complex legal landscape. Discover how you can stay prepared for the future.
