RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

NextCapital does $30-million VC round with a staggering objective that's taking shape first with John Hancock

Nearing 100 employees, the Chicago-based robo-advisor blurs 401(k) and retail asset distinctions by making advice factories out of investment product manufacturers

Tuesday, January 16, 2018 – 8:06 PM by Lisa Shidler
Admin:
no description available
Rob Foregger: John Hancock is the first to do it.

Related Moves

Walt Bettinger sheds 'president' title and Bernie Clark gets new boss as Schwab appoints Rick Wurster as president and No. 2 in charge

The Schwab CEO gets 2016 'Windhaven' hire to share burden of governance from enormity of $8-trillion post-TDA, post-USAA, post-Motif growth.

December 20, 2021 – 11:59 PM

With fears rising that robo-advisors can disrupt $2-trillion target date fund universe, NextCapital raises fresh $30 million and wins five big customers, but can its software spur widespread TDF adoption?

TDFs are cash cows and asset magnets but also dumb robots in an era of smarter ones and the Chicago-based outsourcer is promising answers -- most recently to Franklin Templeton

September 22, 2020 – 8:59 PM

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 – 1:35 AM

How Edelman Financial Engines spin-off deal became a RetireOne engine that's heating up the RIA annuity game again

The fee-based annuities marketplace of Aria Retirement Solutions adds Edelman's broker-dealer, 6,000 clients, 'hundreds of millions' in client assets and an old hand

November 20, 2019 – 10:19 PM

See more related moves

Mentioned in this article:

Financial Engines
401k Plan Consultant

Aite Group
Consulting Firm
Top Executive: Frank Rizza




Brian Murphy

Brian Murphy

January 16, 2018 — 10:09 PM
Good luck, but I don't think this model works for consumers. The old generation (John Hancock is just one of hundreds) is going to have to let go of the end client and RIA relationships altogether, as they simply can't serve the service needs of consumers. They are all "me-too" product companies that have built little in the way of trust among consumers and are vastly outspent by the big names in the industry (Vanguard, Fidelity, Blackrock). Bolting on a feature like NextCapital will not move the needle. The world is moving away from these players, so they spend on technology initiatives like NextCapital on the hope that they can forego real change. Let's face it - a lot of mutual fund providers are going to die at the hands of both ETFs and the next wave of innovative consumer services.

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo