Is a 1993 and 1998-type debt crisis coming? For those of us who lived through the previous debt crisis see some critical similarities to today's conditions: shrinking risk spreads; increased leverage, especially in emerging countries and China; potential dramatic political mayhem; an increase of concern about the level of debt. In previous cases, the key to the crisis was a global turn towards risk avoidance. So far, this has not been onerous. But the risk is certrainly there.
Robo-advisors are set to replace financial advisors in the same way that online banking is replacing bank tellers. This rapidly growing service offers many of the functions of a financial advisor, but at a fraction of the cost. By one estimate, robo-advisors will have $2.2 trillion in assets under management by 2020.