The ironic reason robo-advisors aren't gorging on assets -- a determination to dictate bloodlessly to millennials
Whether you're talking B2B or B2C, the eRIA robo-advisor website personae are dull, disconnected and trying too hard to act grown-up
Related Moves
Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say
The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.
December 31, 2020 at 4:37 AM
Edelman Financial Engines new CEO will face challenges after AUM plummets $50 billion (since start of 2022) and DOL throws wrench in its business model, complicating efforts to convert robo-advised 401(k) assets to an 'Edelman' RIA
CEO Jay Shah must chart a new course after the 2018 merger of the radio superstar RIA and the 401(k) robo-advisor fails to yield invisioned growth.
July 11, 2023 at 2:46 AM
Ashley Arrington is leaving Fidelity for one of its hottest RIA clients, but she'll have to start cold in Nashville to keep her and her boss in the giant's good graces
Boston 'big three' custodian's no-compete agreement will force her to leave behind clients, but it's a small price to pay for a new opportunity and equity in a top RIA.
July 29, 2022 at 2:28 AM
Wealthfront cedes to four years of investors clamoring for crypto by taking on expensive third-party vendor that Betterment rules out
The Redwood City, Calif., robo-advisor turned a hard 'no' into a soft 'yes' by dealing with Grayscale and its 200 basis-point-plus fees, which its robo rival in NYC -- also without a crypto path -- finds ludicrous.
August 14, 2021 at 2:20 AM
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Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff
Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein
Upside
TAMP
Top Executive: Tom Kimberly
Jack Waymire
Financial advisor websites are supposed to convert visitors into prospects based on content and free offers. 82% of advisors, in a Paladin survey, say that is not happening. Robo website are supposed to convert visitors into clients using a higher level version of the same strategy. There is no data that show the conversion rates of Robo websites. Based on the lack of success of advisor websites (includes human contact) I suspect the Robo sites (w/o human contact) are struggling for many of the same reasons.
