JP Morgan almost bought SigFig in 2015

By David Tuckwell on 17th July 2017

Robo-Advice

The banking giant wanted to buy a robo-advisor rather than build one

JP Morgan almost bought SigFig in 2015

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Jamie Dimon thought of SigFig

JP Morgan Chase is in the middle of rolling out a robo-advisor. But before it committed to building one, the company tried to buy one instead. Newly leaked conversations from 2015 suggest that Jamie Dimon personally discussed buying out SigFig Wealth Management. The buyout may have failed because UBS beat them to the punch.

Good financial advisors have nothing to fear

That robo-advice will massacre jobs has been an industry fear for years. With technology forcing big businesses to cut fees and ridding them of thousands of hours work by automating tasks, many employees are worried about their fate. But good advisers have nothing to fear: so thought attendees at SourceMedia’s InVest conference last week.

Brand loyalty is no object

Brand loyalty doesn’t matter for robo-advice, a new study has found.  Investors care far more about the price and ease of use than which brand they get advice from. According to the new survey by Legg and Mason, a mere 4 percent of investors said brand would sway their decision on which advisor to pick.

This article first appeared on www.roboadvicenews.com

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