Tagged: robo advisor

Titan Revamps, Aims to Offer Retail the Best Platform to Build Wealth

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 Expands Digital Investing Capabilities with Truist Invest

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

Schwab Comments on SEC Settlement Regarding Robo-Advisor Offerings

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

Schwab Penalized by SEC for Robo-Advisor Hidden Fees, Disclosure on Performance

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

Indonesia based Robo-Advisor Bibit Acquires $80M via Round Led by GIC

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

Wahed Invest, an Ethical Investing Platform, Hit with Charges by SEC

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

Betterment Updates Brand with Refresh

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

Wealthtech Moduit Raises $4.5 Million

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

Robo-Advisor Betterment Raises $160 Million in Debt and Equity

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

US based Halal and Ethical focused Firm Wahed Integrates Offering with Wealthtech WealthKernel’s APIs

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

Chile: Automated Investment Platform Fintual Raises $15 Million

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

Digital Financial Advisor Fintuity Announces $3 Million in Funding

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

German Fintech Raisin Crosses Billion Euro ETF Threshold

European wealth management fintech Raisin has crossed one billion euros in assets under management, largely on the strength of its growing business in Germany. Over the past six months, German investments have surged by 35 percent as investors access Raisin’s ETF investment products, an area… Read More

Robo-Advisor AQUMON Launches SmartGlobalX, a “Smart” Bitcoin ETF Product for Investing in Securitized Digital Assets

Robo-advisor AQUMON has launched SmartGlobalX, which is described as a “smart” Bitcoin exchange-traded-fund (ETF) investment portfolio. It integrates SmartGlobal algorithms with a Bitcoin ETF in order to allow customers to invest in securitized digital assets, starting from as low as $1,000. AQUMON’s management noted that… Read More

Personal Finance Professional Explains how 401(k) Plans, Robo-Advisors, Investment Apps can Help Grow Our Wealth

Erica Gellerman, a CPA, MBA, and personal finance expert, notes in a blog post published by Chime Financial Inc. (a US-based banking challenger valued at around $14.5 billion) that if you’re planning to grow your wealth or net worth, then investing can be “a smart… Read More

Robo-Advisor: Automated Wealth Management Platform M1 Finance Raises $33 Million Series B

Chicago based M1 Finance, an automated money management platform has raised $33 million in a Series B funding round. The r0und was led by LeftLaneCapital with participation from Jump Capital, Clocktower Technology Ventures as well as existing M1 investors, according to a release. M1 has… Read More

Deposits at Marcus Increased by $26 Billion in Q1 versus Same Quarter Last Year, Meanwhile Robo-Advisor is Delayed

Goldman Sachs (NYSE:GS) has been in the Fintech news quite a bit as of late. Recently, Goldman upset Bitcoin lovers because the global investment bank claimed the world’s most popular crypto was “not an appropriate asset class” along with all other cryptocurrencies. At one point… Read More

Singapore-based Smartly, a Robo Advisory Platform, to Close Down Due to Increasing Competition in Wealth Management Sector

Singapore-based Smartly, a Robo-advisory platform, is reportedly planning to close down its business operations, due to intense competition in the wealth management and technology (Wealthtech) industry. Established in 2015 and acquired in 2019 VinaCapital, a Vietnamese investment management company, Smartly’s management has been struggling  to… Read More

California-based Fintech Wealthfront, a Robo-Advisor, is Reportedly Inching Closer to Becoming a Digital Bank

Palo Alto-based Wealthfront, an automated investment service company with over $11.4 billion in assets under management, is reportedly getting closer to becoming a full-service digital bank. Wealthfront already provides most of the bank-like services including insured savings accounts. The “Cash Account” is offered by Wealthfront… Read More

Survey: 40% of Financial Advisors Say Mobile Apps Will Transform Wealth Management Industry

Financial advisors have been using a wide range of financial planning software and CRM tools to assist their clients. There have been significant changes in the landscape of who offers these financial management tools. Large companies have reportedly been absorbing Fintech startups. However, advisors and… Read More

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