New robo-adviser geared to retirees

Post on November 21, 2016

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About $67.5 billion in assets are managed today through 16 leading digital advice providers, according to a report from research firm Corporate Insight. That compares to $2.6 billion in April 2014, the report released last Thursday said.

Platforms from incumbent firms such as Charles Schwab and Vanguard are dominating the market in terms of asset attraction, the report found. Schwab Intelligent Portfolios and Vanguard Personal Advisor Services hold about $51.2 billion in assets, while the top three startup firms — Betterment, Personal Capital and Wealthfront — have gathered about $13.4 billion.

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