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While attractive, robo advisors may not be as innovative as some believe, said Walter Bettinger, president and CEO of Charles Schwab, speaking at the Finance Disrupted 2017 conference hosted by The Economist. “What they do is take a risk profile and make allocations based on that in relatively low-cost underlying instruments, rebalance the portfolio, and do some level of tax harvesting,” he explained. “That’s been going on for decades.” ...
Vestwell Raises $8 Million in Series A Funding
Vestwell, a fiduciary-backed retirement platform for financial advisors, announced today that it raised $8 million in Series A Funding, led by F-Prime Capital Partners, the venture capital group associated with Fidelity Investments. ...
Telemus Capital Completes First Deal Since Becoming Focus Partner
Southfield, Mich.-based Telemus Capital has completed its first transaction since joining the Focus Financial Partners network, merging with Chicago-based Barrington Strategic Wealth Management. Barrington, which focuses on high-net-worth clients and risk-aware investment strategies, has $350 million in assets, and will push Telemus past $2.5 billion in AUM. ... |
