FYI: Barron’s first cover story on robo-advisors depicted a suited cyborg behind a desk in a fancy skyscraper. The original mission of the robos, after all, was to replicate the best of human investing advice, at a fraction of the cost. The robos had no need to turn down clients—in many cases, they arrived with no minimum account size. They quickly signed up thousands of clients and recruited several billion dollars in assets. But continued growth has required some clever evolution. The financial advisor as cyborg was an oversimplification.
Barron’s third-annual robo ranking—in partnership with Backend Benchmarking—shows that robo assets continue to rise, to at least $440 billion at last count, according to Backend’s analysis. The increase has been driven by new services, including access to live advisors, sustainable-investing products, and higher-yielding cash accounts.
Regards,
Ted
https://www.barrons.com/articles/best-robo-advisors-based-on-portfolio-performance-51564186630?mod=past_editions
