RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

After Andy Rachleff explains Wealthfront's corrective to banking, Jon Stein told how Betterment is investing heavily in banking but mindful of 'frothiness'

The Redwood City, Calif.-based robo-advisor co-founder explained the banking pain points at InVest West and the New York-based robo co-founder told of a $1B banking week but exulted more about RIA custody

Author Brooke Southall December 6, 2019 at 11:48 PM
Admin:
no description available
Andy Rachleff: 'We realized [a high-yield checking account] is a better entry point than an investment account.

Brian Murphy

Brian Murphy

December 7, 2019 — 8:03 PM
Still throwing spaghetti at the wall and trying to see what sticks, I see Ridiculous that a company could be in the marketplace for nearly a decade, raise as much money as Wealthfront has, and yet really have so little clue about where the market is. And yet, they keep coming up with products/services that compete head-on with traditional players using the same tired business models that have been around for forty years or more. Looking forward to the article a year from now that justifies why they've gone into credit, or lending.
Paul J Mauro

Paul J Mauro

December 10, 2019 — 1:18 PM
amazing to me that all this private equity and vc money has been vaporized by 2 companies who have yet to make a profit.you can spend 300 million to get 4 billion that pays you 40 mil a year in fees

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

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 AM

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far

The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.

March 9, 2023 at 1:23 AM

See more related moves

Mentioned in this article:

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo