NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Incumbent firms have embraced digital advice and are driving considerable growth and consolidation in the market, according to Corporate Insight's new study on the robo advice market. Next-Generation Investing: The Incumbents Arrive explores key trends and opportunities in this space and assesses the automated investing and advice services offered by the industry's leading incumbent firms, as well as 22 investing- and personal finance-related startups. The report also analyzes how today's digital advice users differ from other investors, drawing on proprietary survey data. Today, the top 16 digital managed account providers hold $67.5 billion in assets, a 110% increase since July 2015. The three leading startups in this space - Betterment, Personal Capital and Wealthfront - account for $13.4 billion of that total, while Vanguard Personal Advisor Services and Schwab Intelligent Portfolios now hold $51.2 billion. The remaining $2.9 billion is divided among such startups as Blooom, FutureAdvisor and SigFig, as well as incumbent firms E*TRADE and TradeKing. "Brokerages and asset management firms have finally embraced the digital advice opportunity, with hybrid firms leading the charge," said Sean McDermott, senior analyst at Corporate Insight. "After spending years watching from the sidelines, incumbents are responding with their own low-cost, entry-level service offerings to broaden their customer base and protect market share." Since 2015, a dozen leading wealth management and asset management firms - including BlackRock, Invesco, UBS and Wells Fargo - have acquired, invested in or partnered with fintech providers to bring digital advice solutions to either their clients or their advisor workforce. Corporate Insight expects to see the fruits of these deals come to market in 2017.