These apps are putting stock brokers out of business
By Cory Schmidt
Many old Wall Street companies make it difficult for small investors to get in the investment game. For instance, some financial institutions make you invest a minimum of $10,000 just to get your foot in the door. You might have to pay a 3 percent fee and another 5 percent on your profits.
But over the last few years we’ve seen the growth of new companies who are making it easier for you to invest in traditional Wall Street investment packages. One of those companies is Betterment and we spoke with its Director of Investment, Dan Egan, to understand what the company is doing different.