Voya Financial is going robo, the second major player to do so last week.
The announcement of the platform, designed to help its advisors become more efficient and better communicate with the broker-dealer, comes a few days after JPMorgan Chase rolled out its new portfolio offering, You Invest Portfolios.
…
Voya’s move is “clever,” says Jen Butler, the director of brokerage research at Corporate Insights. “It’s a way for their advisors to move downstream.” The firm’s hybrid model will have an advantage because it’s not a direct-to-consumer, Butler adds. The robo will offer active investing options, which can mean higher fees. “It’s higher than most hybrids. Investors are more likely to get a higher-touch experience,” Butler says.
Related Posts
How Subscription Models Can Attract Millennials to the Financial Services Industry
Subscription models provide an…