5 robo-advisers with the most client assets

Robo-platforms are projected to have about $385 billion in client assets by the end of 2021, according to Cerulli Associates

Jun 6, 2017 @ 3:15 am

By Liz Skinner

Think of Google's dominance of search engines. That's about how much America's largest robo-adviser leads in the digital and mostly-digital financial advice marketplace. Today, these five top robo-platforms have a combined $100 billion in client assets, and the market is headed way up in the next few years. It's projected to reach about $385 billion by the end of 2021, according to Cerulli Associates.

Top 5 digital advice platforms
AUM Launched Human advice Cost Minimum Interesting feature
Vanguard Personal Advisor Services $65 billion (as of May 15, 2017) 2015 Clients can call into a center for live financial advice, and those with at least $500,000 work with a dedicated adviser. 0.3% of AUM management fee $50,000 Two-decade history of providing advice to individuals.
Schwab Intelligent Portfolios $15.9 billion(as of March 31, 2017) 2015 Customer support 24/7 via phone, email and chat. None. $5,000 Schwab introduced a hybrid service Schwab Intelligent Advisory with a $25,000 minimum that charges a .28% annual advisory fee and includes ongoing access to a planning consultant.
Betterment $9 billion(as of March 30, 2017) 2010 Clients with at least $100,000 in assets can pay a .4% annual fee for an annual call with our team of CFP professionals and licensed experts; those with $250,000 can pay a .5% fee for unlimited email and telephone advice from CFP professionals and licensed experts. 0.25% of AUM management fee None The largest independent digital platform is seeking wealthier clients and may introduce alternative investments to its platform.
Wealthfront $6.5 billion(as of May 30, 2017) 2011 None. Free for first $10,000, beyond that .25% of AUM annual management fee $500 ($100,000 for tax optimized direct indexing) Its has a program to help clients who hold shares in their public company employers to sell that stock tax-efficiently and commission free.
Personal Capital $4.3 billion(as of May 2017) 2011 Since 2011 its digital offering has included human adviser help by phone, web conference, chat or email. 0.89% annual advisory fee for first $1 million in assets (fee decreases as assets increase) $100,000 Firm's retirement planner shows users if they are in good shape for retirement based on data from their linked accounts and considerations such as if they are having a baby or putting kids through college.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

How men and women think differently about philanthropy

Women are more emotionally connected to their gifts, and want to donate time as well, says special projects editor Liz Skinner.

Latest news & opinion

The power of philanthrophy shifts to women, and advisers are taking notice

Philanthropic women are growing in number — and stature.

Cetera brokers may go elsewhere with no stay bonuses on horizon

Some may feel spurned and leave, while others will simply shrug off latest slight and stay.

Fidelity backs away from being 'point in time' fiduciary for 401(k) plans

Some advisers think this indicates other providers will pivot in light of DOL fiduciary rule's death.

Morgan Stanley CEO is happy that brokers are staying put

Firm has seen little attrition since it dumped the broker protocol last fall, Gorman says.

Bills to reform adviser regulation, increase sophisticated investors and protect seniors pass House

Measures included in package of 32 bipartisan bills meant to ease rules, spur investment

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print