RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Robo-advisors hit lull in everything but VC backing as reality fragments their identity

A Silicon Valley venture capitalist lectures Sallie Krawcheck on drawbacks of human advisors after she explains she needs capital to hire some

Author Brooke Southall December 11, 2017 at 9:43 PM
3 Comments
no description available
Sallie Krawcheck: He proceeded to give me chapter and verse on how financial advisors are hard to manage. (Photo credit: WBUR)

Robo-Advisors

|

Women of Wealth Management


Jeff Spears

Jeff Spears

December 11, 2017 — 11:40 PM
Seems like the robos and their VCs need to look behind them for the puck. Relationship management and sales are difficult to automate. Few wealth advisors I know need to use the line "it's just a Coke a day" to generate new business.
Brian Murphy

Brian Murphy

December 12, 2017 — 12:53 AM
I suspect we ARE in the eye of the storm and many are lining up to ponder what's next. My take is that it's probably NOT more integration with the traditional industry, nor is it getting millenials to invest $6/day instead of $5. There are interesting developments on the horizon that further meld traditional industries of financial planning, wealth management and insurance to deliver what most savers really want; which is to meet their financial goals in a fairly predictable manner at low cost.
Jeff Spears

Jeff Spears

December 2, 2019 — 1:44 PM
We need to add that the investor is always right. Sallie walks the client is always right path better than most. Hopefully she pivots.

Related Moves

December 31, 2020 at 4:37 AM

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

Oisín's Bits: Wealthfront drops old mission statement, declares war on institutions and emphasizes banking future • Seeking Utah charter, Edward Jones may become largest bank in US by branch count • After Advent chief leaves, Black Diamond head steps up

Andy Rachleff cans the old 'democratizing' mission statement at his robo; The 14,200 one-man Ed Jones branches may become branch banks; Steve Leivent consolidates power at SS&C.

July 3, 2020 at 1:12 AM

Walt Bettinger axes current and former Schwab retail chiefs, Terri Kallsen and Andy Gill; funnels responsibilities to Jonathan Craig, for now

The Schwab CEO is 'restructuring,' which includes cutting the Chairman's Club program that sent 200 top performers to Hawaii on a free junket

July 24, 2019 at 12:53 AM


Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings


Common Tags


Recent Articles


Popular Writers


RIABiz logo

RIABiz

About Us

Directory

Archives

Connect

RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.