Category: News
Posted on November 17, 2020
- Robos have 8% adoption across the US, according to Hearts and Wallets
- Millennials show higher adoption rates of robos, especially those with more to invest
- Fidelity, Bank of America, and Schwab launch new, free financial planning tools that are natural funnels to investment management
- Wealthsimple and M1 raise large sums of new funding despite recent industry closures
Posted on September 11, 2020
- Schwab recently released Schwab Plan, a financial planning tool available to all clients for free
- The Plan is powered by MoneyGuidePro and has garnered buzz due to its institutional quality and sophistication
- The tool boasts a hypothetical simulations feature, detailed client considerations, and intuitive sliding scales to easily make adjustments
Posted on September 9, 2020
- Fidelity Spire is a new, free cash management app that is designed to help younger investors plan, save, and invest for their financial goals
- Spire connects to Fidelity Go for seamless integration between saving and investing
- Users can create short-term and long-term goals, prioritize them, and allocate funds accordingly
Posted on September 3, 2020
- We had the privilege of speaking with Axos Financial CEO, Greg Garrabrants
- Topics included the acquisition and integration of robo advisor WiseBanyan, clients’ reaction to the pandemic, and the future
Posted on September 1, 2020
- Motif closed its doors after raising $126mm and being one of the early innovators in the space
- Empower purchases Personal Capital for approximately $1 billion representing the largest acquisition we have seen to date
- Goldman Sachs set to release robo in 2021 after falling behind competition. Will they have a last-move advantage?
Posted on August 26, 2020
- At the end of 2019, we estimate that robo advisors had approximately $631 billion of assets under management (AUM)
- The breakdown includes $247 billion with incumbents, $50 billion with independents, and $334 billion with robo retirement providers
- Our “Top 5” group experienced a 38% year-over-year increase through the end of 2019
