SoFi (NASDAQ: SOFI), a digital financial services that helps members borrow, save, spend, invest and protect their money, announced a new robo-advisor platform, expanding on the company’s automated investment offering. SoFi is one of the automated investment platforms to provide access to alternative asset classes alongside… Read More
Investment platform Betterment has partnered with Goldman Sachs (NYSE:GS) to provide the Goldman Sachs Tax-Smart Bonds portfolio. Not too long ago, Betterment took over Goldman’s Marcus Invest, a Fintech wealth management platform, which is being shuttered. This is part of Goldman’s exit from providing extensive… Read More
Revolut has launched Robo-Advisor service in the EEA, to automate investing tailored to customer needs. The new product is advantageous for those who “don’t have the time to actively invest, or have limited or no trading experience.” Revolut’s Robo-Advisor assigns “a portfolio taking into account… Read More
Wealthfront, a consumer Fintech and pioneer of the robo-advisor industry, announces that the company now oversees more than $50 billion in assets for over 700,000 clients, largely young professionals across the United States. This year Wealthfront‘s team introduced new product lines, “leading to an increase… Read More
Revolut, the global financial super-app with more than 30 million customers globally, has launched a Robo-advisor in the US. The new feature “manages investment portfolios on behalf of customers to remove the friction from investing with lower fees than traditional companies.” Based on responses from… Read More
Robo-advisor Betterment has been hit by charges from the Securities and Exchange Commission regarding material misstatements and omissions pertaining to a tax loss harvesting service (TLH). Betterment has settled the charges with the SEC without admitting or denying the claims, paying a $9 million penalty…. Read More
Wealthfront, a robo-advisor for young professionals, launched the ability to buy individual stocks and fractional shares with zero commissions. Starting today, investors can open a Wealthfront Stock Investing Account with just $1 and access curated stock collections designed “to help clients discover new investment opportunities.”… Read More
Ginman, a Germany-based Robo-advisor, is looking to expand into digital assets, according to a note from the firm. Ginman historically has focused on equities – more specifically, ETFs or exchange-traded funds. As it seeks to add digital assets as an investment option, Ginman has added… Read More
Titan is “re-introducing” its platform to investors. Titan aims to be the one-stop for retail money to build long-term wealth. In a corporate statement, Titan said it had completed a “significant expansion” of its actively managed investment platform. Titan said it will be introducing new… Read More
Truist Wealth has expanded its digital investment offerings with Truist Invest, a robo advisor, and Truist Invest Pro, a hybrid investing solution that “combines automated investing with access to a team of financial advisors.” Joseph M. Thompson, chief wealth officer at Truist, said: “Digital investing… Read More
The Charles Schwab Corporation (NYSE: SCHW) has commented on the settlement with the Securities and Exchange Commission (SEC) pertaining to Robo-advisor offerings and allegations of undisclosed fees and poor performance. Schwab stated via a release: “Schwab has resolved a matter with the SEC regarding certain… Read More
The Securities and Exchange Commission (SEC) charged three Charles Schwab investment adviser subsidiaries for allocating client funds in a manner that their own internal analyses showed would be less profitable for their clients under most market conditions. Schwab has agreed to pay $187 million to… Read More
Indonesian digital investment app provider Bibit recently revealed that it had acquired over $80 million via a funding round that was led by GIC, along with contributions from Prosus Ventures as well as other existing investors. Bibit’s management noted that the capital secured will be… Read More
The US Securities and Exchange Commission (SEC) has filed charges against Wahed Invest, a “robo-advisor,” for “misleading statements and breaching its fiduciary duty, and for compliance failures.” Wahed has consented to the, without admitting or denying the SEC’s findings, while paying a penalty. Wahed Invest… Read More
Gone is the modern speedometer logo and in its place is a “more optimistic” look for the Wealthtech Betterment. Betterment is pushing back on the current state of political division and ubiquitous acrimony with a warmer brand, kind of like a rising sun. In a… Read More
PT Moduit Digital Indonesian has received USD $4.5 million, or IDR 65 billion in a pre-Series A Round, according to a company release. The investment was led by Singapore’s Reciprocus Moduit Holding (RMH). The company said the funding was fueled by its strong performance in… Read More
Betterment, a leading Robo-advisor, has raised $160 million in growth capital. The investment includes $60 million in Series F equity capital and $100 million credit facility. Betterment received a valuation of over $1.3 billion. According to a company release, the equity investment was led by… Read More
WealthKernel, a Wealthtech solution provider for digital investment services, reveals that the US halal (Islamic) and ethical-focused investment company, Wahed, has now migrated its investment offering to WealthKernel’s “trusted” APIs. Wahed had teamed up with WealthKernel back in 2017 in order to use its white-label… Read More
Fintual, a “General Fund Administrator” regulated in Chile by the Commission for the Financial Market, has raised $15 million in a funding round led by KaszekVentures. As quoted in TechCrunch, Pedro Pineda, co-founder and CEO of Fintual, said in creating his company he wanted to… Read More
Fintuity, an FCA-regulated digital financial advisor, has announced $3 million in funding that has been raised from both individual and institutional investors during the past year, according to a post by the company. The funding will be utilized to further develop its tech stack and… Read More
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