Janice Kirkel

Betterment will translate fiduciary duty into assets if for no other reason than conventional brokerage by design neither renders ongoing individualized advice in the client's best interest nor can it easily adapt its product menu,  cost structure or culture. SCW

A lower fee than some other organization charges does not make one a fiduciary, or more of a fiduciary.

After putting big chips on DOL fiduciary rule, Betterment hosts funereal event to mark the April 10 Go Day That Wasn't

BrightScope

Betterment

Celent

Micah Hauptman

Maureen Thompson

Mike Alfred

Jon Stein

Will Trout

Eli Broverman

The days when RIAs were the outsiders at the 401(k) party are fast coming to a close. What's new is that the mass of 401(k) assets 
is getting critical at about $3 trillion; fiduciary advisors are getting appreciated; fat fees and questionable kickbacks are getting exposed and stepping out of line is getting dicier as the Department of Labor tightens the regulatory screws.

The old reasons why the 401(k) business is attractive are still in place: there are fresh assets pouring in every month and when employees leave jobs or retire, they produce rollovers that build up IRA accounts for financial advisors. The drawbacks of getting into the 401(k) business are still in place, too. Dealing with retirement assets is really a second line of business and it remains -- unless you overcharge with hidden fees -- a low margin business with high potential fiduciary liabilities.

Still, the outsourcers, infrastructure and accumulated knowledge for RIAs to capitalize on is growing daily and a the mega-shift of assets away from brokers is making the 401(k) business riskier and riskier -- to ignore.

401(k) Stories

This section contains news and coverage about the dozens of conferences held in the advisory industry every year. Those conferences range from annual events put on by the big custodians to small hands-on workshops hosted by law firms, consultants and tech companies, among others. RIABiz can't cover all the conferences, but this page includes our stories about those we have written about.

We hope that getting a flavor of the different gatherings helps you decide which are worthwhile attending and &mdash; if you're in the conference business yourself &mdash; what clicks with attendees and what doesn't. Have a suggestion for a conference we should cover? Email me, Brooke Southall at <a href="mailto:brooke@riabiz.com">brooke@riabiz.com</a>.

Conferences

Stripped down to its essentials, financial advice is a fairly straightforward proposition. Done well, a highly ethical individual stewards the assets and actions of an investor in a personal and professional interchange.
 
But now a vibrant new class of entrepreneurs is staking their fates and their fortunes on the premise that financial advice can be delivered in a better, cheaper, easier, more ethical, more transparent manner and, as a bonus, in a way more devoid of human annoyance on both ends of the transaction.
 
Cue the robo-advisors, arguably a callous misnomer for automated asset management. 
 
The prototypical robo-advisory entrepreneur has more brands on his or her resume than NASCAR. The bona fides of these industry upstarts often include Ivy-level colleges and MBA programs at Harvard or Stanford. They are often flush with IPO dollars realized at concerns like LinkedIn, Facebook, eBay, Amazon  and Microsoft. 
 
Robo-folk believe that technology is not an enabler of advice but rather, if engineered correctly, advice itself in digital form. 
 
And, they believe the best solutions originate in Silicon Valley or academia, not Wall Street. Robo-entrepreneurs are white-boarding the whole business model, culture and technology from scratch in the conviction that little can be learned from a legacy advice system still rooted in an investment banking culture acting under the core premise that if stockbrokers get rich some of the good effects will trickle down to clients – with the clients none the wiser. 
 
Robo-advisors are a scintillating topic for students of the advice game as they grow by hundreds of millions in assets every month, constantly evolve their business models and receive cash infusions from ever-larger swaths of venture capitals.
 
Throw in the fact that robo-advisors have yet to see a dime in profits -- and won’t in the foreseeable future -- and you have real intrigue. 
 
RIABiz has avidly covered the fast-evolving robo-advice phenomenon and will continue to do so. We present the growing body of articles here.

Robo-Advisors

CEO Jon Stein sat shoulder to shoulder with CFP Board and Consumer Federation of America guests and held court with CNNMoney, Wall Street Journal and Consumer Reports reporters

After putting big chips on DOL fiduciary rule, Betterment hosts funereal event to mark the April 10 Go Day That Wasn't

Stephen Winks

JD

Related Moves

December 8, 2020 at 5:27 PM

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April 8, 2025 at 1:49 AM

January 11, 2025 at 3:01 AM

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After putting big chips on DOL fiduciary rule, Betterment hosts funereal event to mark the April 10 Go Day That Wasn't

Stephen Winks

JD

Related Moves

December 8, 2020 at 5:27 PM

April 30, 2019 at 5:25 PM

April 8, 2025 at 1:49 AM

January 11, 2025 at 3:01 AM

RIABiz Directory

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