Ranking robo-advisors is hard, but increasingly necessary
A weekly roundup of robo-advice news from across the web.
Lawrence Wintermeyer, CEO of the robo-advisor lobby Innovate Finance, has exited after two and half years at its helm. He leaves at a time when the number of robo-advisers is growing exponentially.
In fact, there are now so many robo-advisers that sorting best among them is becoming harder. In Singapore at least there is an obvious winner: StashAway. The group has been judged best in class by more than one independent reviewer.
As robo-advisors establish themselves, some are wondering if there will be IPOs. Betterment, Wealthfront and Personal Capital have all considered it in the US.
Closer to home, Moola has slashed its minimum investment from £200 right down to £50, meaning that people with little to invest – or seeking simply to give robo a low-cost trial – have easier access.
Maybe the cost slashing makes sense. One new survey shows that only 12 percent of Britons trust robo-advice. (Yet this was contradicted by another which said 49% of investors wanted to try robo-advice.)
This article first appeared on www.roboadvicenews.com
30 May 2023
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