Updated Wednesday, July 1, 2015 as of 2:29 AM ET
How Bank Advisors Can Compete Against Robos
We're a long way from building strong, interpersonal relationships with computers (the movie "Her" notwithstanding), which gives banks an advantage.
More in Mass Affluent
Robo startups are expected to reach $452 billion in AUM in five years, but incumbent firms will possess over $1 trillion in assets in the digital automated advice space. more »
Betterment CEO Jon Stein says his firm is adding 1,000 accounts a week to the tune of about 94,000 with a total of $2.3 billion AUM. Over 30% of assets come from clients age 50 and up, he adds. more »
Wealthfront CEO Adam Nash says “Silicon Valley optimism” will help reimagine and redefine financial services. more »
SEC Commissioner Kara Stein is worried that mutual fund sector is moving beyond the reach of the regulators. more »
Fidelity's custody unit is backing a deal in which a Mariner Holdings unit will pay 35 basis points for referrals of mass affluent customers. more »
At the urging of management, advisors and bankers now hold joint annual review meetings with customers in a coordinated quest to secure more of their business. more »
The additional revenue from President Obama's expected proposed tax increase would be used to fund programs to assist the middle-class; Plus, how to help a client who missed employer's matching 401(k) funds. more »
Older middle-class Americans in their 50s are more likely to lack confidence in their retirement preparedness, with almost half fearing they haven't saved enough. more »
Global private wealth will grow 40% to $369 trillion by 2019, with more than one quarter of the growth coming from emerging markets, according to Credit Suisse Group AG. more »
Only about 20% of the mass affluent market have a financial advisor, notes FutureAdvisor CEO Bo Lu, compared with around 60% of individuals with more than $1 million in investable assets. more »
Mass-affluent investors are a confused group, so advisors need to set clear expectations about the markets, as well as the help they can provide. more »
Many parents are not saving enough for their children thanks to their own unpaid student loan debts, according to new study from the CFP Board. more »
Many U.S. households are not adequately prepared for retirement, according to a new report from the Federal Reserve that found 31% of non-retired respondents indicating they have no retirement savings or pension, including 19% of those ages 55 to 64. more »
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