Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Please note that all times are shown in the time zone of the conference. The current conference time is: 13th May 2024, 09:51:08pm EDT

 
 
Session Overview
Session
Track M1-2: FinTech
Time:
Monday, 20/May/2024:
9:30am - 10:15am

Session Chair: Jillian Grennan, UC-Berkeley
Discussant: Ian Appel, University of Virginia
Location: Room 610


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Presentations

Impact of Robo-advisors on the Labor Market for Financial Advisors

Ishitha Kumar

Emory University

Using hand-collected data on robo-advisors, I study the impact of robo-advisors on the corresponding high-skilled (financial advisors) labor market. I find that robo-advisors and financial advisors are complements. This complementarity can be explained by the expansion in market for financial services through (1) an increase in financial advisors at firms that directly compete with robo-advisors in terms of services provided (relative to the rest of the firms) and (2) an increase in investor-level demand for financial advisors. I also find that the observed increase in the number of financial advisors is due to a reduction in separations and an increase in hirings. This is associated with an increase in the average experience of a financial advisor with no e


Kumar-Impact of Robo-advisors on the Labor Market for Financial Advisors-1299.pdf


 
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