Tag: FinTech
Posted on September 11, 2020
- Schwab recently released Schwab Plan, a financial planning tool available to all clients for free
- The Plan is powered by MoneyGuidePro and has garnered buzz due to its institutional quality and sophistication
- The tool boasts a hypothetical simulations feature, detailed client considerations, and intuitive sliding scales to easily make adjustments
Posted on June 8, 2020
At one point, Goldman Sachs was amongst the most secretive of Wall Street banks. The veil was lifted partially when the company decided to go public in 1999. For the first time, the public could glean some insight as to the inner workings of the company. Even then, it maintained a low profile. Its core business units were investment banking, trading, and wealth management for the ultra-wealthy.
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Posted on December 10, 2019
The robo advice industry will soon have a new player: Goldman Sachs. Details are limited but Rachel Schnoll, head of Goldman’s RIA platform, said that the product is built but not yet available to the public. The new robo advisor is expected to pair nicely with Marcus, Goldman’s consumer-facing bank. Both are part of Goldman’s initiative to move away from exclusively serving the ultra-wealthy and instead to bring Goldman-quality products to the mass-affluent.
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Posted on December 6, 2019
Robo advisors are a high-tech solution to investment management, enabling individuals to invest in a professionally managed and diversified portfolio in less than 30 minutes. As robo offerings have proliferated, a select group has stood out for its wide breadth of technology. The startups who brought the technology to the public nearly a decade ago—Wealthfront, Betterment, and Personal Capital—offer easy-to-use platforms packed with integrated technologies.
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Posted on November 26, 2019
Fintech companies are continuing to disrupt the financial services industry. Over the past few years, firms have begun to offer high-yield savings accounts that pay very competitive interest rates when compared to the paltry rates savers are accustomed to seeing in their checking accounts. Recently, the fintechs have expanded their focus to include spending accounts with debit cards.
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Posted on November 11, 2019
Cash Products Attract Assets
Wealthfront and Betterment have both hit $20 billion worth of assets on their platform. On its website, Wealthfront boasts that its “clients trust [it] with more than $21 billion” as of November 2019. However, regulatory filings suggest that most of this growth has been the result of cash moving into high-yield savings accounts.
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