They’re betting there will be a fundamental change in the way people invest, that the marketplace will see a paradigm shift to automation and simplicity.”
Andy Putterman. |
Summary: Now they need to prove that they can survive the long game. In just a few years, an emerging group of digital RIAs — often characterized as “robo advisors” — have amassed over $16 billion in assets, according to New York–based research and consulting firm Corporate Insight. The leading players include Wealthfront, with about $1.6 billion in AUM; Betterment, with around $1 billion; and Personal Capital, at around $800 million.
They’re betting there will be a fundamental change in the way people invest, that the marketplace will see a paradigm shift to automation and simplicity.”
Andy Putterman. |
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