article thumbnail

Robo-Advisor Teardown: How Betterment And Wealthfront Stack Up

CB Insights

In the battle for assets under management (AUM), incumbent wealth management firms have faced significant pressure from insurgent robo-advisors, as investors have poured over $1.6B into robo-advisors across 151 investments since 2013. Want the full expert post? Become a CB Insights customer.

article thumbnail

Acorns Teardown: The Most Popular Robo-Advisor Faces A Fierce Fight As It Goes ‘Upmarket’

CB Insights

Launched in 2013, Acorns is a new breed of robo-advisor. RESEARCH BRIEFING: RISE OF ROBO-ADVISORS. Users link their credit card to their Acorns account and let Acorns “keep the change” on every transaction. Find out how Betterment, Wealthfront, Stash, and Acorns are taking on the $70T asset management industry.

article thumbnail

BlackRock Acquires Online Investment Advisor, FutureAdvisor

Fintech Labs Insights

When the going gets tough in today’s wealth management business, the tough acquire robo-advisors. International risk and investment management titan BlackRock has agreed to acquire FutureAdvisor , the San Francisco-based online investment advisor founded in May 2010, for an undisclosed sum.

article thumbnail

Wells Fargo Settles With SEC Over AML Reporting

PYMNTS

Wells Fargo Advisors and the Securities and Exchange Commission (SEC) reached a settlement this week resolving charges that the bank dropped the ball in reporting suspect activities pertaining to money laundering for several years. According to a MarketWatch report published Tuesday (Nov. based branches and dealt with international clients.

article thumbnail

Banks Are Finally Going After Fintech Startups

CB Insights

Since 2013, 80% of the top 50 banks by total assets operating in the US have not acquired a fintech startup. Since 2013, only 18 fintech startups were acquired by just 10 of the top 50 US banks. But overall, Goldman’s recent fintech M&A binge appears to be an industry outlier, not the norm. JPMorgan Chase.

FinTech 68
article thumbnail

Fraud? Maybe Not, But Some Questionable Expenses Indeed

PYMNTS

The findings came from a survey of 2,000 individuals between 2013 to 2018. As reported last week in CPA Practice Advisor , per AppZen, roughly 30 percent of expenses filed by employees in the professional services space get flagged when scrutinized against corporate policies. The FBI noted that as much as $12.5

article thumbnail

Wells CFO Not Losing Sleep Over Rising Consumer Debt

PYMNTS

The comments come as Wells Fargo Advisors and the Securities and Exchange Commission (SEC) reached a settlement this week which resolved charges that the bank dropped the ball in reporting suspect activities pertaining to money laundering for several years. He said home equity loan activity is currently “very slow.”. million.