Which robo-advisers are working

• Of those recommended not to invest, more than 3,000 downloaded the OpenMoney app and linked their accounts, where their partnership with uSwitch helps people save money on their utilities.

• GI and mortgages services, and a new workplace proposition are all in development, too.

These new propositions have gone beyond the early ‘robos’ of trying to sell a product simply by creating a lower-cost version of the existing model.

Removing people is not the answer.

No, the best of the new services are evolving at speed, offering a broader range of services, and meeting more and more consumer needs. They will continue to attract investment and are here to stay.

If you find yourself talking to someone who proclaims ‘robo is dead’, it is worth reminding them that it is actually far more nuanced than that.

And if you work in propositions, please, do not play safe; push the boundaries.

An original is always worth more than a copy. It’s when your competitors start copying you that you will know you are doing something right.

Simon Bussy is director, wealth at Altus Consulting

FTAdviser’s inaugural Smarter Business Summit is a full-day event that will equip advisers with the skills and insights they need to keep their business relevant and successful. Discover more here, and sign up for either the London event on Tuesday May 5, or Birmingham on May 7.