It's what some are starting to call "a digital wealth management revolution."

Advances in digital technologies have made it possible for new financial tech companies to pop up in the wealth management space, challenging traditional advisory models.

One has to look no further than the amount of money being pumped into these startups to see this.

Investment in financial technology tripled between 2008 and 2013 from $928 million to $2.97 billion and is expected to double again to between $6 billion and $8 billion by 2018, according to a report by Accenture.

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