Free for 90 days: Sign up now and get 90 days managed free after your first deposit. See offer details

Coming soon: our new one-on-one advice packages. Learn more

Now available: our new one-on-one advice packages. Learn more

Get your entire Smart Saver balance managed free for 3 months. Enroll today

Get your entire Smart Saver balance managed free for 6 months. Enroll today

Introducing Smart Saver: You could earn 1.83% with our low-risk investing account for your extra cash.* Learn more

Financial Planning

Are big banks too big to robo?

By Gabriella Iannetta

Digital-first advice firms have weighed how the biggest banks will fare in the space, says Betterment’s director of behavioral finance and investing, Dan Egan.

Shifting business models for a long-term strategy into developing or buying a new digital platform could be a daunting task for a big bank already making money, he suggests.

“We do not have existing revenue streams that we’re worried about cannibalizing,” Egan says. “They could’ve started robos years ago but they weren’t incentivized to do it.”

Read the Original Article

This article originally published April 19th, 2017 on Financial Planning

Search our site