Would be a great Kick-off signal of M&A of ROBO as there are not too many with a good brand, so can imagine this become a competitive auction...vs buying inhouse.... although valuations might be high even for largest banks in the world
Wells Fargo has done a good job of keeping itself out of the news. In today’s wealth management and banking environment that is a feat unto itself. The quiet bank and financial services company has been quietly having conversations with some well known and “finally up to scale” firms in the robo-advisor space. The understanding being that their own high margin call center type of concept isn’t nearly as robust as the likes of Merrill Edge or UBS’ for that matter. Wells believes that any acquisition could be quickly scaled and begin managing accounts < $250k immediately.