Schwab recently announced it was going to offer a free robo-advisor service to its clients. Personally I think this will be a game changer. If they can get other big name brokers onboard with the idea then it is really going to pressure the guys who are charging fees.
At the very least we should see price point squeezes for fees, which is great for the consumer. I doubt that they will take too many clients back from WealthFront, Betterment, et al, but I think it may stop the attrition, and provide an interesting alternative.
At the very least we should see price point squeezes for fees, which is great for the consumer. I doubt that they will take too many clients back from WealthFront, Betterment, et al, but I think it may stop the attrition, and provide an interesting alternative.