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NextCapital raises $16 million as its founder goes where Financial Engines' 401(k) robo strategy didn't

Betting giant asset managers will carry the day, recovering co-founder of Personal Capital Rob Foregger seeks firms like Russell Investments, Alliance Bernstein as VC investors and as enterprise clients

Author Lisa Shidler December 17, 2015 at 7:17 PM
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Rob Foregger: We believe is the lion's share of the assets will be won by the incumbents.


Stephen Winks

Stephen Winks

December 17, 2015 — 9:29 PM

Remember when brick and mortar retailers worried that online retailers would put them out of business? What happened is brick and mortar retailers just used online customers to boost their existing business. Large financial services firms with massive market presence will out robo the nascent .robo with no market presence. Importantly robos will actually enhance the technical competency of established firms in measurable ways to the consumer’s benefit. Rather than being paralyzed with fiduciary liability, robos help the industry embrace it and consumers win in a big way.

Stephen Winks

Brian Murphy

Brian Murphy

December 17, 2015 — 10:12 PM

I do remember when brick & mortar retailers were worried that online retailers would put them out of business, Stephen. And last time I checked Amazon was pretty close to doing just that for Borders and Barnes & Noble, no?

Tying your fortunes to a bunch of second-tier, old-world firms is downright silly – good luck Next Capital, you’ll need it!

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Mentioned in this article:

Russell Investments
Top Executive: Jennifer Tice

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