Breaking down the best robos for your practice

There's a lot to consider when managing a financial advisory practice, but one of the more ever-present components of the business these days is whether to offer an automated online investment platform. Robo-proofing a practice is one of the more obvious ways advisers can stay competitive, as direct-to-consumer robo-advisers' popularity continues to rise. In fact, investors are becoming more and more likely to use these automated platforms. According to an A.T. Kearney study that surveyed 4,000 consumers with investible assets, 20% said they are aware of robo-advisers. Although just 4% said that they were extremely likely to use robo-advisory services for managing investible assets, 10% were very likely, 19% were likely and 36% said they were somewhat likely. Less than a third of respondents — 31% — were not at all likely to adopt a robo platform. Advisers can find an offering that is compatible with their practices, though. Below is a breakdown of the various features offered on these automated investment platforms that are designed for advisers to implement. Customizable portal for clients Mobile app for clients Custodians Betterment TD Ameritrade TD Ameritrade Schwab FOLIOfn Investments, Interactive Brokers, Mid-Atlantic Trust, Scottrade, DriveWealth, Stifel, Envestnet's Placemark Pershing FOLIOfn Dozens Pershing Whichever the adviser works with TD Ameritrade, National Bank of Canada Minimum cash allocation