
The CEO of Morgan Stanley took a shot at th - SirLJ
http://www.businessinsider.com/morgan-stanley-ceo-on-roboadvisers-2017-7
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Powerofmene
Still, when you stack up everything that a human adviser provides, according
to Gorman, they're actually not that much more expensive for the client than a
robo-platform. Here's Gorman:

If you look at the average basis points paid from the various robo-platforms,
they range, in general, I think, from something like 20 to 40 basis points. If
you look at the average basis points for full-service advisory, like ours,
just divide our revenue into our assets, including everything, you get
somewhere in the 70s, low-70 basis points.

>>What? 20-40 basis points for robo-platforms verses the low 70s basis points
for full service. Not much different?

That is triple on the low end to almost double. He would be better talking
about the value added aspects of full service that trying to base it on the
difference in basis points, IMO.

