You are in agreement with the author. His definition of 'rich people' is "the traditional bread-and-butter client for registered investment advisors of $1 milli

You are in agreement with the author. His definition of 'rich people' is "the traditional bread-and-butter client for registered investment advisors of $1 million to $25 million in household wealth". The $100,000 - $1m asset class he refers to as the 'mass affluent' are who he concedes might be a market for 'roboadvisors'.