Tagged: robo advisor

Wealthfront Now Oversees $50B+ in Client Assets, On Track to Grow Revenue

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

Financial Super-App Provider Revolut Introduces Automated Investing in the US

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

SEC Charges Fintech Betterment with Material Misstatements Regarding Tax Loss Harvesting Service

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 Allows Investors to Buy Individual Stocks, Discover New Investment Opportunities

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

Germany: Robo-Advisor Ginman Looks to Expand into Digital Assets

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 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

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