Vanguard - one of the world's largest investment companies – is planning to introduce a digital-only Robo-advisor called Digital Advisor. The all-in price for the automated planning and investment service will make it cheaper than most all-digital robos and is likely to transform the already very competitive market. According to David Goldstone, head of research at Backend Benchmarking the launch of Digital Advisor will have the biggest impact on Schwab, Fidelity, TD Ameritrade, Betterment and Wealthfront and he’ll be especially watching to see if Betterment and Wealthfront cut their fees.
BETTER FINANCE believes that the growing and constantly changing Robo-advice market could go a long way towards attracting retail investors back into equity markets. It is therefore constantly reviewing the Robo Advisory business from the perspective of individual investors and savers. With already three reports launched, BETTER FINANCE will soon publish the fourth edition, evaluating already existing Robo-advisors that will allow drawing comparisons between them in terms of their user-friendliness, transparency, suitability, as well as fees and costs.