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I worked as a vendor to money managers for many years (Vanguard was one of our bigger customers) and am familiar with the industry. The conclusion most of my c
by baus 10y ago
I worked as a vendor to money managers for many years (Vanguard was one of our bigger customers) and am familiar with the industry.
The conclusion most of my colleagues have come to is the roboadvisors don't really offer much beyond Vanguard target date funds. The roboadvisors seem to be failing to acquire significant assets.
- shostack 10y agoMore importantly, with their low fees, they need massive AUM to ever be profitable. There is a reason Personal Capital is making more than WF/BM by analysis I've read.