Merrill Lynch is piloting a new hybrid digital advice offering for its managed account suite, Merrill Guided Investing with Advisor, according to a recent ADV filing. Positioned as a combination of Merrill’s pure-robo (Merrill Guided Investing) and its traditional managed service (Select Portfolios), the new platform offers clients access to the full digital account experience […]
Corporate Insight recently attended the IMEA Marketing Summit at the Hyatt Regency in downtown Chicago. IMEA (formerly MFEA) hosts several themed conferences throughout the year, such as sales, distribution and leadership, with this iteration focusing on marketing. For the one-day event, industry leaders and key decision makers gathered to offer their takes on the latest […]
Targeting recent college graduates, Fidelity’s new Five Money Musts program incorporates gamification and personal finance education strategies to jump start the next generation of investors. The game lets users make financial decisions as a recent graduate, including which job offer to take, where to live, how much to contribute to a 401(k) versus student loans […]
The financial advice industry is going through unprecedented disruption. Tighter regulations, shifting client demographics, new competitors, pricing pressures and technological innovations pose many challenges. Asset management firms can be valuable partners to advisors in this uncertain environment by providing web-based resources that support FAs in their prospecting, client communication, fund research and financial plan development. […]
While most financial advisor search tools fail to differentiate themselves or innovate, some brokerage firms are pushing that status quo. As recently as this past month, firms like Merrill Lynch and Morgan Stanley have updated their advisor search tools to better integrate third-party technology and address customers’ specific financial needs, setting a new standard for […]
In CI’s recent fifteenth annual installment of the Mutual Fund Advisor Monitor Awards report, we highlighted multimedia offerings from the top firms in the asset management space. Advisors seeking insights on market and economic conditions are bombarded with a swathe of content that they need to read and synthesize in order to gain valuable takeaways, […]
We are excited to announce the release of Corporate Insight’s 2016 Monitor Awards, our annual reports that recognize firms across our coverage groups for excellence in the digital user experience they offer prospects, clients and advisors. For more information about the awards and trends that we have observed over the last year, please see our news […]
In just a few years, digital advice – or “robo” advice – has almost become a table-stakes offering in the brokerage industry. While much of the attention paid to digital advice focuses on the wealth management industry, fintech firms can be found throughout the financial services ecosystem, including services that aim to disrupt banking, payments […]
After spending years watching from the sidelines, incumbent investment firms are embracing digital advice services. Since spring 2015, nearly all the major U.S.-based hybrid brokerage firms have introduced proprietary digital advice solutions or announced their plans to do so soon. Meanwhile, many full-service firms are partnering with digital advice providers such as BlackRock/FutureAdvisor and SigFig to provide either their clients or advisors with automated advice solutions. Our newest study, Next-Generation Investing: The Incumbents Arrive, explores the forces driving this activity, which include the pending DOL fiduciary standard and the opportunity to provide a lower-cost, entry-level relationship in order to reach the next generation of investors. The report also analyzes key trends and developments in the digital advice space and how this market may evolve moving forward.
In this review of the digital advice space, we explore key trends and opportunities in the market, examine digital advice platforms from incumbent firms and leading fintech firms, and discuss the implications these technologies have for the financial services industry.