Why I find the term 'robo-advisor' objectionable and unhelpful
In the end, all good advisors will likely be both bionic and biological and terms of art creating a false distinction are unhelpful
Related Moves
Wealthfront cedes to four years of investors clamoring for crypto by taking on expensive third-party vendor that Betterment rules out
The Redwood City, Calif., robo-advisor turned a hard 'no' into a soft 'yes' by dealing with Grayscale and its 200 basis-point-plus fees, which its robo rival in NYC -- also without a crypto path -- finds ludicrous.
August 14, 2021 at 2:20 AM
Second Betterment exec departs as new CEO Sarah Levy orients to her first month on the job and is confronted by personnel matters
Chief operating officer Dustin Lucien is the latest to leave the New York City robo-advisor, one of at least eight positions open as it prepares a push across multiple business lines to ignite growth.
January 19, 2021 at 6:32 PM
Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say
The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.
December 31, 2020 at 4:37 AM
Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO
The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.
December 8, 2020 at 5:27 PM
See more related moves
Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff
Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein
Robocop
Robo-advisor in this case can mean advisors that specialize in $75,000 accounts. That is the average account size at the robo-advisors.
Stephen Winks
If Robo Advisors actually rendered continuous comprehensive individualized advice they would be advisors in fact, but they don’t. It is not because the data can not be managed individually and continuously, it is because the needs of the client are unpredictable and infinite which require a human. There is a difference between technology and advice, the difference is expert prudent process which explains portfolio construction and continuous, comprehensive counsel that can not be mechanized.
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Gail Graham
Consumers today like the tech+human world we live in. The world has changed, and our industry is too staid. For many investors the on line option is a great way to enter the investment world. And even older, wealthy clients often want a more collaborative, engaging and interactive experience that includes digital and social tools. Both channels, not either or. I agree with you on this one Brooke – there’s a lot of wishful thinking out there from people who fear change. Takes courage to imagine a whole new way.
Jack Waymire
Using my crystal ball, there may be three types of advisory services (not advisors) in the future that vary by service levels and fees: The 25 bps service, 65 bps service, and 100 bps service. You get the algorithms of the “robo” service running your money for 25 bps (no personal contact; it is an algorithm). You get the Internet advisor for 65 bps who includes personal contact, but it is limited to telephone, email, and video. And, for 100 bps you get the face-to-face advisor, the traditional model preferred by Wall Street’s powerful sales culture. There is no selling in the “robo” model. There is limited selling in the Internet model. There is substantial selling and competition in the face-to-face model. Younger investors with smaller asset amounts may prefer the 25 bps or 65 bps service models. Older investors, with more money, will pay higher fees for a more personal service level. The more choices investors have the more pressure there will be to deliver value-added services that justify the expense. Commission reps, who dominate the under $100,000 market, well be impacted the most.
NervousCat
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he buzz-word unquestionably is globalization or internationalization,?states Prof. Ravikesh Srivastava, Chairman with the Publish Graduate Programme of . s the western nations are progressively checking out economic saturation, progressively a lot more are seeking to generate their small business to India. Within just this year’s foundation system we are concentrating to the Indian benefit system, Indian heritage, culture and ethics. We’re emotion our students, to generally be the managers of en Y? must be effectively knowledgeable in just the traditions and tradition that belongs to them place and also the marketplace they might be operating from. We’ve requested school from well-known faculties to deal with the scholars on these topics. Naturally, the overall disciplinary classes would keep on being an element with the module, but a significant emphasis carries on to become put on Indian heritage, tradition and value program.?
