#ItzOnWealthTech Ep 22: The Third Wave of Digital Advice with Margaret Hartigan, CEO of Marstone
“Digital wealth has to be one leg of the digital strategy a bank might have. So it’s going to be payments, it’s going to be mobiles, it’s going to be banking, and it’s going to be wealth management. They have to be coordinated together, because it has to be driven according to the expectations and […]
WealthSimple Tries to Breakout of the Canadian Market with $100 Million from Allianz
“There is no Vanguard or Schwab here [in Canada]. We are the ones gobbling up the industry assets.” — Michael Katchen, CEO, WealthSimple In the U.S., Vanguard owns the digital advice market with their Personal Advisor Services hybrid solution. But up in the Great White North, it is a five-year-old robo-advisor called WealthSimple that is […]
HNW Clients Are Driving Banks to Expand Digital Advice Solutions
As much as the previous business cycle in retail banking was marked by an unsustainable consumer credit explosion, the current one will be shaped by digital. This will include increased changes in payments and a wider metamorphosis in systems enabled by digital technologies. There is an immediate need for action. According to a report by […]
Are There Too Many Roboadvisors? with Michael Kitces
I recently had the pleasure of speaking with industry guru and all-around nice guy, Michael Kitces. Our discussion was focused on trends in advisor technology, which meant that the subject of roboadvisors had to be covered at some point. You can watch the video using the link below, or read the transcript that follows. Is It Time for […]
What If RoboAdvisors Gave Away Financial Planning?
Bill Gates made a splash recently with a controversial statement about how to deal with the impact of technology on the job market. He proposed a new tax on companies that install robots to replace human workers. His logic is that a tax will reduce the pace of automation and the money raised would be used for retraining […]
The Top 10 WMToday Posts from 2016
Craig’s Note: I love these summary articles because they’re a great way to re-purpose content while providing you, our loyal readers, with a handy overview of the year gone by. Robo-Advisors are still a hot topic, although I believe a B2C shakeup is likely in 2017. Portfolio rebalancing tools have been a staple on this blog since it started. […]
Do Canadian RoboAdvisors Provide Bad Service?
In an article in Canada’s Financial Post, author Jonathan Chevreau discusses a study by Boston-based consulting firm Dalbar that used 45 “mystery shoppers” to assess ten Canadian-based robo-advisors. They found that some platforms are falling short on service expectations, which creates “significant reputational risk”. Chevreau, the CFO of Financial Independence Hub, explained that the mystery shoppers reported a number […]
Wealthfront Revs Up With AI, But Is Still Running on Fumes
Wealthfront finds itself facing a cloudy future as its fifth anniversary nears, thanks to the dust that its bigger rivals, Vanguard and Schwab, and its disruptive competitor, Betterment, are leaving in their wake. The robo-advisor just announced a collection of new features that they hope will right the ship and get their asset growth back on […]