Talking at the Schwab ’s annual Impact conference , CEO and President , John Bettinger , dismissed the business model of many robo - advisory startups as one built to flip rather than provide a long - term solution . ROOM TO IMPROVE Bettinger suggested that Schwab will look to improve upon the robo advice engine that exists today, in which a client's investments are allocated by an algorithm to a basket of ETFs. Schwab built its own risk - advisory platform , Intelligent Portfolios , which has gathered $ 5000 in assets since its launch in March , and considers it to be cheaper and more trustworthy that platforms run by digital - first companies . Leading independent robo - advisory platforms , Betterment and Wealthfront , have raised 3bn and £ 2.6bn AUM respectively , according to latest figures .
Talking at the Schwab ’s annual Impact conference , CEO and President , John 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 risk - advisory platform , Intelligent Portfolios , which has gathered $ 5000 in assets since its launch in March , and considers it to be cheaper and more trustworthy that platforms run by digital - first companies . Leading independent robo - advisory platforms , Betterment and Wealthfront , have raised 3bn and £ 2.6bn AUM respectively , according to latest figures .