There are a growing number of automated advisory platforms, which allows investors to purchase investment products without human interaction. But is the world ready for the rise of "robo advisers?"

This is one of the hottest topics that have been making its rounds in FinTech. Robo-advisers were developed on the premise that most of what the Registered Investment Advisors (RIA) do can be replicated by advanced software.

It will make investment decisions more efficient, easier, and more fun. Betterment and Wealthfront are two of the major firms that have been using robo-advisors, and it has achieved something 99% of startups haven't done, which is turning ideas into a growing, thriving company, and become a mainstay in its industry.

The future seems to be getting closer as the $4.7 trillion worth wealth management colossus BlackRoch recently acquired FutureAdvisor, which is a robo advisor platform that manages $600 million worth of funds.

BNY Mellon Asset Management Head of Web & eMarketing Brad Hancock said, it is unwise for asset managers to not see the possible disruption that robo advisors could cause. Nutmeg had just raised $32 million for their platform, with Schroders as one of the major financers. "Our industry cannot afford to ignore these technological gains that investors will benefit from and are actively seeking out."

With the fast creative destruction process going on in FinTech, Forbes' Chance Barnett shares his thoughts of skepticism on robo advisors.

One of the reasons is that the younger tech savvy millennials, who have experienced two financial crises in their lifetime, might find it hard to trust this new investment system. Robo advisors also can't hold investors hands and brace with them as financial problems hit the market.

The human emotion is something that software doesn't have. Robo advisors haven't proven that it could yield better returns with its algorithm.