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Shakeout predicted in automated wealth management

Aug 29, 2019 - American Banker

The boundaries between banks, automated savings apps and robo-advice fintechs continue to erode as each has developed digital-first investment management products aimed at younger customers.

Big banks such as Wells Fargo and Bank of America have added digital-first banking services and automated investment advice, while startups such as Wealthfront and Betterment now offer checking and savings accounts to complement their digital advice platforms.

For further perspective on the evolu...