Ally Bank is all about appealing to its “digitally savvy” millennial customers base, says CEO Diane Morais. And rightfully so, since millennials now comprise nearly half – 48% – of the digital bank’s customer base. In that spirit, Ally is focusing its efforts on digital wealth management and credit cards, Morais saidRead More
Post Tagged with: "robo-advising"
Six years ago roboadvising was the domain of just a few startups, but today the space is getting increasingly crowded. Betterment saw that coming since Day One (exactly six years ago), according to CEO Jon Stein. “But that’s a good thing for us, because every time one of these incumbentsRead More
Fidelity Investments is launching its digital wealth management tool, a.k.a. robo-adviser, later this summer, a company spokesman told Bank Innovation today. The new product, Fidelity Go, has been in customer pilot for the past two months, and, based on customer feedback, will be ready to go live soon. It’s a completely separateRead More
Betterment has launched Betterment Institutional today, a platform to help financial advisors gain access to the same robo-advising tools Betterment uses for its retail wealth management. Similarly, Betterment announced that it is now working with Fidelity Institutional Wealth Services to extend Betterment Institutional to Fidelity IWS’s 3,000-plus registered independent advisors (RIA’s).Read More
Fidelity will unveil its robo-advisor soon, as Schwab also prepares to release a robo-broker.