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Bill Crager: I've got your back against the attack of the killer robo-advisors

Bringing the wood at the Envestnet Advisor Summit, the president allows that online advisors are crackerjack at providing account views 24-7 but human advisors can close that gap

Author Lisa Shidler May 16, 2014 at 2:57 AM
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Bill Crager: We're not going to be a robo advisor. We're not going direct to consumers.






Syephen Winnks

Syephen Winnks

May 19, 2014 — 6:47 PM

What Bill is saying is EnvestNet will not compete directly with advisors yet, to stay competitive, EnvestNet will advance modern technology that will electronically manage values and portfolio detail in real time that is otherwise not humanly possible to manage. There is no denying the human three dimensional limitation to reason, thus modern technology is the only way to manage an unlimited number of custom portfolios which incorporates important technologies (that also drive robo advice).

Utilizing advanced technology Envestnet will empower brokers to address and manage a broad range of investment and administrative values in greater detail with a far higher degree of technical competency than is humanly possible which minimizes any competitive Robo Advisor advantage. Yet cost will be a major factor which can only be mitigated through a more modern approach to portfolio construction. The days of expensive retail package advice products which do not constitute individualized advice required for professional (fiduciary ) standing are numbered in a highly competitive marketplace.

Envestnet will not compete directly with advisors as a robo advisor, but it will afford all the technical, cost and pricing benefits of robo advice.


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September 27, 2023 at 2:48 AM

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Mentioned in this article:

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Top Executive: Sanjiv Mirchandani

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

Envestnet Inc
Top Executive: Jud Bergman

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