Lisa Shider

The steps Personal Capital is taking to win bigger accounts after a year of 100% growth and 95% of them small fish

Kyle Ryan:  Everyone looks at headlines and says they're small and everyone was small once.

Personal Capital

Pershing Advisor Solutions

Pinnacle Advisor Solutions

Michael Kitces

Kyle Ryan

Stripped down to its essentials, financial advice is a fairly straightforward proposition. Done well, a highly ethical individual stewards the assets and actions of an investor in a personal and professional interchange.
 
But now a vibrant new class of entrepreneurs is staking their fates and their fortunes on the premise that financial advice can be delivered in a better, cheaper, easier, more ethical, more transparent manner and, as a bonus, in a way more devoid of human annoyance on both ends of the transaction.
 
Cue the robo-advisors, arguably a callous misnomer for automated asset management. 
 
The prototypical robo-advisory entrepreneur has more brands on his or her resume than NASCAR. The bona fides of these industry upstarts often include Ivy-level colleges and MBA programs at Harvard or Stanford. They are often flush with IPO dollars realized at concerns like LinkedIn, Facebook, eBay, Amazon  and Microsoft. 
 
Robo-folk believe that technology is not an enabler of advice but rather, if engineered correctly, advice itself in digital form. 
 
And, they believe the best solutions originate in Silicon Valley or academia, not Wall Street. Robo-entrepreneurs are white-boarding the whole business model, culture and technology from scratch in the conviction that little can be learned from a legacy advice system still rooted in an investment banking culture acting under the core premise that if stockbrokers get rich some of the good effects will trickle down to clients – with the clients none the wiser. 
 
Robo-advisors are a scintillating topic for students of the advice game as they grow by hundreds of millions in assets every month, constantly evolve their business models and receive cash infusions from ever-larger swaths of venture capitals.
 
Throw in the fact that robo-advisors have yet to see a dime in profits -- and won’t in the foreseeable future -- and you have real intrigue. 
 
RIABiz has avidly covered the fast-evolving robo-advice phenomenon and will continue to do so. We present the growing body of articles here.

Robo-Advisors

This call center advisor is handing out free iPads to its wealthiest clients along with bulk pricing and concierge services that include two human advisors per family

The steps Personal Capital is taking to win bigger accounts after a year of 100% growth and 95% of them small fish

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The steps Personal Capital is taking to win bigger accounts after a year of 100% growth and 95% of them small fish

Related Moves

February 14, 2023 at 3:15 AM

January 12, 2022 at 3:13 AM

March 12, 2020 at 1:45 PM

March 22, 2019 at 7:55 PM

RIABiz Directory

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