Tag: M1 Finance
Posted on September 15, 2021
SRI or ESG investing remains a hot trend in the investment industry. At Backend Benchmarking, we compare the equity performance of the SRI/ESG options and the standard options at the same robo advisor to analyze their differences.
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Posted on April 7, 2021
- Merrill Edge has substantially cut its minimum, eToro announced it will go public via SPAC, and Stash launched its robo advisor
- Meanwhile, some industry shake-ups include Wealthsimple leaving the U.S. market and M1 raising new funding
- Lastly, Chinese robo advisor BangNiTou crosses 1 million users
Posted on November 17, 2020
- Robos have 8% adoption across the US, according to Hearts and Wallets
- Millennials show higher adoption rates of robos, especially those with more to invest
- Fidelity, Bank of America, and Schwab launch new, free financial planning tools that are natural funnels to investment management
- Wealthsimple and M1 raise large sums of new funding despite recent industry closures
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 May 18, 2019
Robos expand into banking and cash management, as high yield account options have proliferated among direct to-consumer fintech platforms
Wealthfront joined the growing trend of fintech companies that offer high-yield accounts designed for cash savings. Betterment announced their cash management program late last year, as did trading app Robinhood. Robinhood launched its product with an aggressive 3% interest rate, but made a regulatory miscalculation and quickly pulled their product offline to reconfigure. Although these savings vehicles often appear very similar, there can be important differences. For example, Wealthfront places funds in FDIC insured bank accounts, while Betterment’s product invests funds in a conservative fixed income portfolio.
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