[ad_1]
Condor Capital Wealth Administration launched its fourth quarter Robo Report, noting that robo-advice suppliers are attracting particular person buyers largely as a result of their considerably decrease minimums and prices.
On the identical time, the report highlighted JPMorgan Chase’s closure of its digital robo-advisor service. The financial institution cited a shortfall in demand, scale and profitability, and identified that the robo-advising enterprise has failed to satisfy expectations when it comes to monetary sustainability and buyer acquisition.
Condor acknowledged that profitability and scalability have been longstanding challenges for the robo-advisor business regardless of preliminary excessive hopes that prospects would swarm to digital platforms.
The brand new report additionally stated the Betterment account that Condor tracks acquired fee as a part of the settlement Betterment made with the Securities and Alternate Fee in April over software program points.
The report stated this growth got here in opposition to the backdrop of an ongoing narrative throughout the robo-advisor business, the place regulatory compliance and software program integrity stay essential to sustaining belief and guaranteeing digital platforms’ clean operation.
To determine the fourth quarter’s prime robo-advisors, Condor’s Robo Rating graded the platforms throughout some 45 particular metrics, scoring every robo on varied high-level classes, together with options, monetary planning, buyer expertise, entry to dwell advisors, transparency and conflicts of curiosity, dimension and tenure, account minimums, prices and efficiency.
Apart from naming the general prime advisors, Condor gave a nod to particular person robos in these particular person classes:
- Greatest robo for efficiency at low price: Wealthfront
- Greatest robo for first-time buyers: SoFi
- Greatest robo for digital monetary planning: Wealthfront
- Greatest robo for complicated monetary planning: Vanguard
- One-year complete efficiency: SoFi
- Three-year complete efficiency: Schwab Home Focus
- 5-year complete efficiency: Wealthfront
See the gallery for the ten prime robo-advisors for the fourth quarter.
[ad_2]
