Tag: Digital Investing
Posted on May 18, 2019
Robos expand into banking and cash management, as high yield account options have proliferated among direct to-consumer ﬁntech platforms
Wealthfront joined the growing trend of fintech companies that offer high-yield accounts designed for cash savings. Betterment announced their cash management program late last year, as did trading app Robinhood. Robinhood launched its product with an aggressive 3% interest rate, but made a regulatory miscalculation and quickly pulled their product offline to reconfigure. Although these savings vehicles often appear very similar, there can be important differences. For example, Wealthfront places funds in FDIC insured bank accounts, while Betterment’s product invests funds in a conservative fixed income portfolio.Read More…
Posted on May 8, 2019
Although initially seen as a disruptor to the financial services industry, digital investing and robo advisors continue to expand markets, engage previously underserved clients, and encourage traditional wealth managers to embrace technology.
This past quarter we spoke with Karen Wimbish, Head of Product for U.S. Bancorp Investments and Financial Planning, about her experience with Automated Investor, U.S. Bank’s digital investing platform.Read More…