Vonnegut: What Are Financial Advisers Worth?
BY Norb Vonnegut
Wealth-management conversations these days are more about performance and high fees
Then there are the “robo-advisers.” Despite their tiny sliver of industry assets under management, these Web-based investment services have a disproportionate impact on wealth-management discussions because, well, they reach so many people.
Of all the robo-advisers, Betterment has the most clients, says Jon Stein, the CEO. His company manages $1 billion for 50,000 clients at fees ranging from 0.15% to 0.35%.