Consumers are increasingly comfortable with automated investing, but that may not be such a good thing. According to a global study conducted by Accenture, seven out of ten consumers surveyed would “welcome” automation—or robo-advisors—into their financial lives, including a high level of comfort, almost 80% (78%), with robos in traditionalRead More
Post Tagged with: "roboadvisors"
Exhibits No. 1 and 2: Brexit. The U.S. Presidential election. It’s all their fault that funding for fintechs continued to fall in the third quarter. (We’d also add that the exuberance in the first part of 2015 was making some investors nervous.) Now that we’ve gotten that out of theRead More
Hedgeable, the roboadvisor geared to you-know-who, is expanding its target audience to small businesses. The nation’s biggest generation– yes, it’s millennials again — wasn’t big enough. Hedgeable isn’t the only startup looking beyond millennials and consumers in general to pitch its wares. In the past decade, many fintechs in wealthRead More
Roboadvisors are hot in financial and wealth management at the moment, despite the fact that “roboadvisor” can essentially refer to any online service that generates automated investment advice. The current debate in fintech is over their use more than their classification; specifically, people are questioning whether they should be used at all,Read More
U.S. Bank has partnered with investment advisory firm FutureAdvisor to provide automated, or robo-advisory services to its clients at U.S. Bancorp Investments, an affiliate of the bank. FutureAdvisor was bought by the world’s largest investment manager, BlackRock, about a year ago. While roboadvisors have their advantages in terms of cost,Read More
Roboadvisors are among the hottest trends in fintech — or invest tech, if you prefer — but a new proposed ruling from the Department of Labor has raised questions, specifically: Are roboadvisors fiduciaries? Robos, which provide personalized advice based on algorithms to clients without any need whatsoever for human interaction, seem toRead More
The branchless financial institution Ally Bank is expanding its offerings with the upcoming acquisition of TradeKing, a wealth management platform, announced yesterday. Ally had floated this ambition back in February. Ally has been adding to the functionality of its mobile app at a fast clip recently. Just last month, the bank announced theRead More