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Robo-Advisor News December 2018 – Robo-Advisor Wizard Launches!

Last Updated on December 19, 2018 by Barbara A. Friedberg, MBA, MS

Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t  believe is valuable

The Robo-Advisor Selection Wizard is Here

By staff columnist, Alexandra Deluise

After months of feedback, tweaks and edits the robo-advisor wizard is live!

Click to get immediate access to this amazing Robo-Advisor Selection Wizard.

In under one minute, after answering four quick questions, you’ll get a list of the best robo-advisors for you.

This one-of-a kind robo-advisor tool makes choosing a robo-advisor seamless. Plus, there’s a bonus offer at the end!

Robo-Advisor News on Goldman Sachs!

Goldman Sachs is hitting the top of our news list this month with some exciting changes. The firm is looking to offer options for investors who don’t have millions of dollars on hand. This is good news for individuals who are looking for additional investing options but who can’t necessarily move upwards of $10 mil into a new account.

Goldman Sachs’ deal with Google and digital wealth management products could mean a Goldman Sachs robo-advisor is on its way, which would be exciting news for robo investors Hugh Son at CNBC and Alex Padalka at Financial Advisor IQ have more below.

WiseBanyan Has Been Acquired!

One of our most frequently referenced robo-advisors, WiseBanyan, has recently been purchased by Axos Financial. Press releases have been shared widely, including by MarketWatch and Business Wire, which are listed below.

Don’t get too worried about the change yet—Axos Financial’s CEO and President, Greg Garrabrants, stated that Axos Financial has a “commitment to expand WiseBanyan’s free and premium products and features” which likely means users will continue to get affordable (read: free) and effective services even under the new management.

Other Robo-Advisor News

Despite these big moves, there are other things happening on the robo-advisor front this month. Andrew Welsch, from Financial Planning, writes about a partnership between UBS and Broadridge Financial Solutions, for example, and the subsequent tech upgrades we can expect from this partnership.

Don’t forget—it’s possible to make money and make a difference as well. Financially responsible investing options made the news this month, with Betterment, Wealthfront, and M1 Finance receiving special mention on this front in an article by Barbara Friedberg at Investor Place.

Robo-Adviser News December 2019

“Goldman Sachs, Advisor to the Ultra-Rich, Plans to Offer Wealth Management for the Little Guy” by Hugh Son at CNBC

“For decades, you had to have at least $10 million for Goldman Sachs to manage your money. Now, the bank is preparing digital wealth management for the little guy.

The firm is working on a digital wealth product, its first new offering under a Marcus brand that so far has had high-interest savings accounts and personal loans. Ahead of that move, Goldman said Monday it was moving Marcus into its investment management division, home to businesses that manage wealth for the ultra wealthy (who average $50 million in holdings) and create mutual funds and ETFs.”

“Goldman Sachs’ Google Deal Could Signal a Robo-Advisor for the Firm” by Alex Padalka at Financial Advisor IQ

“At Google, everyone from the C-suite executives to ‘first-year coders’ will have access to Ayco’s financial planning services, according to Business Insider. And the platform that will be available to Google staff already resembles the way clients sign up for robo-advisors. Employees will answer a series of questions about their financial status and goals, and algorithms will ensure that the resulting advice is tailored to each customer, the website writes.

Plans for Ayco’s platform include offering investment products such as a managed portfolio and investment sleeves, Restieri tells Business Inside. And more than 1 million clients are expected to have access to Ayco’s platform before the end of the year, he says, according to the website.”

“Fintech Streamlines Socially Responsible Impact Investing Via Robo-Advisors” by Barbara Friedberg at Investor Place

“What makes an investment socially responsible? There are several criteria. For instance, SRI investing avoids tobacco companies as their products cause health problems and death. Typically, a company’s social responsibility rating is based on its performance in three categories: environmental, social and governance (ESG). Positive practices across one or more of these spheres can land a company in the socially responsible category.

At the same time, robo-advisors are digital investment managers designed to grow your wealth through investing with models are based on sophisticated computerized algorithms, including ESG consideration. These fintech darlings have answered the call for socially responsible robo-advisors with a host of diverse options. Of course, you could choose a socially responsible mutual fund or ETF on your own. But, for the busy investor, let one of the many robo-advisors take charge of your investing, in line with your personal values.”

“UBS Taps Broadridge for its Big Advisor Tech Upgrade” by Andrew Welsch at Financial Planning

“UBS is turning to outside talent for its next big technology project, mirroring a path it took in order to develop a robo advisor solution.

The firm is partnering with Broadridge Financial Solutions to revamp its advisor tech platform for its U.S. wealth management business. It’s a potentially huge, multiyear undertaking that UBS expects to lead to higher advisor productivity.”

“Axos Financial, Inc. Signs Agreement to Acquire WiseBanyan” at MarketWatch and “Axos Financial, Inc. Signs Agreement to Acquire WiseBanyan” at Business Wire

“Axos Financial, Inc. AX, +2.03% (“Axos” or the “Company”) announced that its subsidiary, Axos Securities, LLC, has signed a definitive agreement to acquire certain assets of WiseBanyan Holding, Inc. and its subsidiaries (“WiseBanyan”). Pending regulatory approval and other customary closing conditions, Axos expects the acquisition to have an immaterial impact on its financial results and close in the fourth quarter of calendar 2018. Axos will fund the all-cash transaction with existing capital.

Headquartered in Las Vegas, Nevada, WiseBanyan is a leading provider of personal financial and investment management services through a proprietary technology platform. Established in 2013 with the goal of providing the tools and education for clients to reach their financial goals, regardless of their starting point, WiseBanyan provides an intuitive and user-friendly technology platform for individuals to manage their finances and create custom investment portfolios tailored to meet their life goals. As one of the first “robo advisors” offering comprehensive digital financial and investment management services free of charge with no minimum balance requirements, WiseBanyan currently serves approximately 24,000 clients with $150 million of assets under management (“AUM”).”

Don’t forget to check out this amazing Robo-Advisor Selection Wizard.

Staff columnist Alexandra DeLuise combines her banking experience with real-world financial advice to provide simple money tips to everyday people.

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Barbara A. Friedberg, MBA, MS

Barbara Friedberg, MBA, MS brings decades of finance and investing experience to Robo-advisor Pros. She is a former investment portfolio manager and taught Finance and Investments at several universities. Barbara Friedberg's published work includes Personal Finance; An Encyclopedia of Modern Money Management (Greenwood Press), Invest and Beat the Pros-Create and Manage a Successful Investment Portfolio and How to Get Rich; Without Winning the Lottery. Follow her on twitter