FutureAdvisor responds to Schwab's market entry with a truly free offer and big backing from Fidelity and TD Ameritrade
The San Francisco-based RIA is automating parents' investments into 529s, Coverdell ESAs, UTMAs or UGMA for tax-free savings, no paperwork
LCD
What are you people smoking, Future Advisor takes on Schwab, probably the best marketing company the industry has ever seen and they are just getting started, not to mention Vanguard who just went down market to $50k and had $17B prior in just two years in a pilot program. When all these companies go the way of Learnvest, if they are lucky, what are you going to have to write about.
brooke southall
LCD,
Your comment is received with gratitude. If we’re not smoking, we are at least drinking the Kool-Aid. I stand by my comments but with the humble understanding that you may be spot on. [Though there is always plenty to write about!]
Still, realize that Vanguard is not a robo-advisor. It is virtually a pure human advisor business, though we, too, lump it in at times in robo-discussions and it competes on price with robos. Learnvest is also heavy on humans.
Schwab is blowing people away in terms of gross asset numbers but arguably its marketing has been to little effect. Virtually all of those assets were won from itself. That could change.
Brooke
Related Moves
TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor
The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing
July 23, 2019 at 4:30 AM
Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer
Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.
June 29, 2024 at 3:00 AM
Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k
Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.
June 7, 2024 at 1:44 AM
Another A-list RIA Schwabbie lands on his feet -- this time at DeVoe & Co. -- after TD Ameritrade merger displacement of 2,000-plus
Tony Parkin takes the reins as president of the San Francisco M&A shop and reunites with ex-Schwab boss who left 14 years ago
May 10, 2024 at 1:29 AM
See more related moves
TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff
