Robo-advice News Wrap: video made the robo-advice star

By David Tuckwell on Thursday 29 June 2017

Savings and Investment

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Video has come to robo-advice on the back of TD Ameritrade, marking a new frontier in an upstart industry. TD, the third largest robo by assets under management, sent out personalised video reports to some of its clients on their portfolio’s first quarter performance.

A PIMFA working group has suggested an interesting new strategy to attract poorer millennials to robo-advice. The group recommended low fees and low investment requirements – which are standard. But, interestingly, it also recommended tiering fees by age.

Some say robo-advice is active management in disguise, and they're right. But aren't all portfolios actively managed? Every investor makes at least some choices actively: risk, currency and taxes – if nothing else. So if robo is lumped in as active management, who cares?

Lawrence Raffone, CEO of Financial Engines, is leading the pack in attempting to bring robo-advice to the massive 401(k) market. By merging with a national RIA he hopes to take on the accounts of Fortune 500 companies.  

This article first appeared on

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