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roboadvisor M&A + future of digital wealth management

June 19 · Issue #37 · View online
Tearsheet Weekly Newsletter
Robos, robos, and more robos
Future of digital wealth management
Robos were in focus this week. FT Partners, one of the most active investment banks in fintech, published an important report [.pdf] on digital wealth management (read Tradestreaming’s summary of the report here). 
FT Partners’ Steve McLaughlin has had a hand in most of the major transactions in the roboadvisory space. He joined us on the Tradestreaming podcast (listen here). Sure, he thinks that at the end of this, there could be a large standalone robo but, as the BlackRock/FutureAdvisor deal shows, “the empire will strike back and arm pretty much every RIA in the country with these types of products and services to service their clients.”
It may not be Star Wars, but true to form, Capital One quietly launched its own hybrid roboadvisor. That means the portfolio management piece is software-driven but delivery can be analog – investors can chose to get an advisor on the phone to discuss things. At 90 bps, clients will pay more for the advisor piece than the robo.
Not to be outdone, Vanguard’s CEO Bill McNabb encouraged advisors to embrace the robos or risk falling behind. Though not the focus of the article, he said that the huge asset manager’s own robo offering is currently at $40 billion AUM (with just $10b of that cannibalized from other Vanguard products).
Read more
The Incumbents
Behind closed ledgers: an inside perspective on the Wells Fargo / Xero integration
The Startups: Who's shaking things up
Top 5 mobile parking payment apps
Oh, Canada: What you need to know about Canadian fintech
White House officials gather with fintech leaders and regulators has saved users more than 5,000 years of student loan payments
6 apps that build saving and investing fundamentals
Startups raising/Investors investing
German fintech company builder FinLeap raises €21m
P2P mobile payment app Tapp raises $9m to tap into the cash economy in Southeast Asia
Debit card for businesses, Bento banks $7m
Goldman Sachs, Citi, Santander most active investors in fintech
Tools of the trade
Will fintechs kill the FICO score
Starbucks cards have more cash than some banks
What is the 'Halving'? A primer to Bitcoin's big mining change
Marketing, data, and user behavior
The 6 shadiest fintech industries
New financial products
Hulk Hogan, Gawker, and the future of litigation finance
Travelex partners with Wirecard to launch new card and mobile product, Supercard
Canada experimenting with digital fiat currency
What we're reading
The 23 sexiest stock images of money
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