Three Charles Schwab investment adviser subsidiaries have agreed to pay a total of $187 million to settle SEC allegations that a robo-adviser system, Schwab Intelligent Portfolios (SIP), facilitated cash allocations in investors’ portfolios that ultimately lowered their returns “by approximately the same amount as an advisory fee would have,” according to the regulator. “Without admitting… Read More >>
Does Better Investor Literacy Spur More Efficiency?
(Editor’s note: GuidedChoice, a retirement advisory firm, has been what it can to educated investors either directly or as a fiduciary partner to financial services firms. The company, based in San Diego, Calif., began its odyssey by applying institutional software and other IT such as Monte Carlo simulations to the retirement concerns of ordinary investors…. Read More >>
SEC Pushes Proper Training of Robo-Advisors
The SEC’s division of investment management and its office of investor education and advocacy have issued guidance for the financial services industry and for investors, respectively, regarding the use of robo-advisers, which the commission defines as “registered investment advisers that use computer algorithms to provide investment advisory services online with often limited human interaction.” There… Read More >>
Fiserv’s Unified Wealth Platform Embraces the Robot
(Editor’s note: A provider of an array of financial technology solutions, Fiserv is partnering with Marstone, a New York-based digital advisory firm, to provide the Powered by Marstone suite of digital investment advice solutions. The suite will be offered via Fiserv’s Wealth Management Network. FTF News was lucky to get time with Cheryl Nash, president… Read More >>
Robo Advisors Take Japan by Storm
Robo advisors are not only taking the Western world by storm but are also infiltrating Asia, most notably in Japan. Although these countries share some of the same demographic and generational themes, a new report by market research firm Celent — “Fintech and Robo Advisors Booming in Japan” — found that cultural variations are shaping… Read More >>
Tradier Brokerage Partners with Apex Clearing
Tradier Brokerage is hoping to expand the reach of its brokerage application programming interface (API) through a partnership with Apex Clearing Corp., to serve the growing digital advisory community and registered investment advisors (RIAs) that need robo-advisor capabilities, officials say. The expanded offering will bring together Apex’s clearing and execution platform with Tradier’s API to… Read More >>
