Latest robo-advisor News: Finextra Research

Wealth managers failing to meet clients' tech expectations

Investors are prepared to dump their wealth managers if they fail to embrace new technology, suggests recently published research.

26 September 2024

Finextra TV/markets

Communify Fincentric Unifies Financial Data with Acquisition from S&P Global

John Wise, Chairman and CEO of Communify Fincentric, explains the backstory to the company's acquisition of Markit on Demand from S&P Global. Aimed at fixing the financial industry's persistent challenge of fragmented data, this strategic move unifies client and market information in a single platform, integrating over 4,000 global data feeds to enhance AI-driven insights for portfolio managers, advisors and self-directed investors. By merging these data sets, the business intends to set a new standard for the broking, wealth and asset sectors, enabling institutions to navigate complex data landscapes and drive growth in a digital world.

15 August 2024

Company update/crypto

Path Digital Advisors launches robo-advisor app

Path Digital Advisors, LLC (“Path”), an SEC-registered investment advisor, has launched its new app nationwide featuring Managed Portfolios, a fully automated crypto portfolio.

12 August 2024

Finextra TV/wealth

Private Banking: Today’s Needs and Expectations

Join FinextraTV at the Temenos Community Forum 2024 as Shabi Shafei, IT Lead, ABN Amro & Marlou Jenniskens, Managing Director, Digital Wealth Products, ABN Amro, explore how the private banking landscape is changing and with that, banks like ABN AMRO are adapting their products and offerings to ensure they are meeting these shifting expectations. These altering needs are also resulting in changes in how banks leverage technology and collaborate with providers to meet goals.

20 June 2024

News/wealth

Goldman Sachs offloads Marcus robo-advisor customers to Betterment

Goldman Sachs continues its retreat from consumer banking, striking a deal to sell its Marcus Invest digital investing accounts to Betterment.

23 April 2024

Company update/wealth

Revolut launches robo-advisor in Ireland

Revolut, the global financial super-app with more than 35 million customers globally, has launched its own Robo-Advisor service in Ireland. The new product allows customers to save time and automate investing tailored to their needs.

21 February 2024

Company update/wealth

Robo-advisor Wahed launches in the UAE

Wahed Invest Limited (Wahed), the UAE robo-advisory subsidiary of Wahed Inc., a global Shariah-compliant fintech that aims to advance financial inclusion through accessible, affordable and value-based investing, has launched after having been granted a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Wahed will become the UAE’s first dedicated Islamic digital investment management platform.

27 November 2023

Company update/wealth

WealthKernel and Bambu team on no-code robo-advisor tech

WealthKernel, a wealthtech provider of digital investment services, today announces a new partnership with Bambu, a digital wealth technology provider.

15 November 2023

Company update/wealth

Ammonite raises £250k investment

Industrial Thought Ltd. – a group of companies focused on accelerating the future of wealth management – has announced a £250K investment in Ammonite, developers of hybrid financial advice technology. This raise comes during a period of significant economic pressures but also a period of rapid transformation for the industry, with financial advisors forced to meet a new wave of digital demands. As a result of the investment, Ammonite can speed up the pace of its development and enable more advisory firms to grow their customer base.

10 November 2023

News/retail

IBM on how banks are starting to embrace generative AI

Earlier this week, NatWest announced its collaboration with IBM to add generative AI to their chatbot Cora, making it Cora+.

10 November 2023

News/retail

Revolut introduces automated investing in the US

Revolut has launched a robo-advisor in the US, offering customers the option to have their investment portfolios automated.

29 June 2023

News/retail

Innovate Finance calls for expanded open banking to help with cost-of-living crisis

Fintech industry body Innovate Finance has called on regulators to extend open banking to support the deployment of budgeting and affordability algorithms as a way to help Brits with the cost-of-living crisis.

03 March 2023

News/wealth

M&G Wealth rolls out hybrid robo advisor

M&G Wealth is rolling out its robo-advisory platform twelve months after taking a stake in tech provider Moneyfarm.

31 January 2023

News/wealth

Moneyfarm buys Profile Pensions

UK digital wealth manager Moneyfarm is buying pension adviser and consolidator Profile Pensions. Financial terms of the deal were not disclosed.

08 December 2022

News/crypto

Betterment introduces crypto investing portfolios

Digital investment advisor Betterment is teaming up with Gemini to offer crypto investing portfolios to its 730,000 customers.

27 September 2022

News/wealth

UBS abandons $1.4bn Wealthfront acquisition

UBS has pulled the plug on its $1.4 billion acquisition of robo-advisor Wealthfront but says it is still committed to its growth plans in the US and strengthening its digital offering.

05 September 2022

Company update/wealth

Truist launches robo-advisor

Truist Wealth has expanded its digital investment offerings with Truist Invest, a robo advisor, and Truist Invest Pro, a hybrid investing solution that combines automated investing with access to a team of financial advisors.

29 August 2022

News/inclusion

Stackwell raises $3.5m to tackle racial wealth gap

Stackwell, a digital investment platform targeting the black community, has raised $3.5 million in a seed funding round.

04 August 2022

News/wealth

Wealthsimple lays off 13% of staff

Canadian digital wealth platform Wealthsimple is the latest fintech to trim its workforce, blaming "market volatility" for the decision to lay off 13% of its staff.

15 June 2022

News/regulation

Charles Schwab pays $187m to settle SEC robo-advisor charges

Subsidiaries of Charles Schwab have agreed to pay $187 million to settle SEC charges that they misled clients about fees for the broker's robo-advisor product.

14 June 2022