A New Wave of Apps for Wealthy Investors

 

By Liz Moyer

The banks are facing challenges from, among others, startup investment-management firms such as Betterment that interact with customers almost exclusively online, in effect replacing traditional wealth managers and financial advisers with computers.

At New York-based Betterment, 60% of its roughly 40,000 clients use the firm’s mobile app, while more clients access their accounts through the app than through the firm’s website.

 

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This article originally published July 11th, 2014 on WSJ.