Pioneer of robo-advice industry opts for human touch
By Ben McLannahan
“Robo-advisers” promised to upend the world of wealth management by relying on computers, rather than people, to manage money.
But one of the leaders of automated investing in the US has made a break from that model, hiring a team of human beings in an effort to spur demand.
At Betterment, a New York-based company with about $7.3bn under management, assets will no longer be managed entirely digitally. Instead, customers will be given the option of a consultation with a financial adviser once a year, along with advice on portfolio construction from a team of certified financial planners.