Talking at the Schwab ’s annual Impact conference, CEO and President, Walt Bettinger , dismissed the business model of many robo-advisory startups as one built to flip rather than provide a long-term solution. Schwab built its own robo-advisory platform, Intelligent Portfolios , which has gathered $ 4.1bn in assets since its launch in March , and considers it to be cheaper and more trustworthy that platforms run by digital- 3bn firms. Leading independent robo-advisory platforms, Wealthfront and Betterment , have £ 3bn and £ one Intelligent Portfolios respectively, according to latest filings.
Talking at the Schwab’s annual Impact conference, CEO and President, Walt Bettinger, dismissed the business model of many robo-advisory startups as one built to flip rather than provide a long-term solution. Schwab built its own robo-advisory platform, Intelligent Portfolios, which has gathered $4.1bn in assets since its launch in March, and considers it to be cheaper and more trustworthy that platforms run by digital-first firms. Leading independent robo-advisory platforms,Betterment and Wealthfront, have £3bn and £2.6bn AUM respectively, according to latest filings.