Tag: Financial Planning

Posted on August 18, 2021

Originally a consumer lending platform, SoFi has since expanded to offer investment management services.  Although it is significantly smaller than SoFi’s lending platform, SoFi Invest has attracted over $100 million in assets under management.

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Posted on August 18, 2021

With over $60 billion in assets under management, Schwab Intelligent Portfolios is the second-largest direct-to-consumer robo advisor. It offers two service tiers: the first is digital-only and has no management fee, and the second (Schwab Intelligent Portfolios Premium) has a minimum of $25,000 and charges a monthly fee of $30/mo (after a one-time initial planning fee of $300).

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Posted on August 18, 2021

SigFig started as an offshoot of Wikinvest, a Wikipedia-style resource for investors.  Launched in 2012 as a free portfolio tracking and investment advisor referral service, SigFig is now one of the original robo advisors still in operation.  Between its platform and strategic partnerships with incumbent institutions such as UBS and Wells Fargo, SigFig has grown to over $1.4 billion in assets under management.

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Posted on August 18, 2021

With over $200 billion in assets under management, Vanguard’s Personal Advisor Services is the largest direct-to-consumer robo advisor. Vanguard offers a compelling robo with low fees and strong access to live advisors. In our most recent Robo Ranking, Vanguard’s Personal Advisor Services was ranked the Best Robo for Complex Financial Planning Needs.

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Posted on August 18, 2021

Wealthfront was founded in 2008 as kaChing, a mutual fund analysis company, before pivoting into wealth management.  Wealthfront officially launched in December 2011 and has since raised a total of over $200M in venture capital to expand operations.  Between its investment management and cash account offerings, Wealthfront is now one of the largest independent robo advisors.

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Posted on August 17, 2021

First launched in 2010, Betterment is one of the original robo advisors.  They have raised more than $275 million in venture funding and have grown to be one of the leading digital advice providers. In their most recent annual disclosure, Betterment reports over $28B in assets under management (AUM) on their platform and services over 600,000 clients. 

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