Startups and established firms alike are creating low-cost ways to offer wealth management advice using rules-based algorithms.
Here’s how to choose among automated investment services from startups such as Betterment and financial giants like Vanguard. In the world of investment advice, the machines are getting all the buzz. Since 2009, more than 200 companies have jumped into the fledgling business of helping investors plan their portfolios online, from venture-capital-backed startups to fund giants Fidelity Investments and Vanguard Group to brokerage firms such as Charles Schwab. These services, dubbed robo advisers, share a similar approach: using automation to select...
http://www.wsj.com/articles/putting-robo-advisers-to-the-test-1429887456
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