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Wealth Professional | 05 Oct 2015, 10:33 AM Agree 0
Move over Wealthsimple, the digital investment services field got a little more crowded Monday with the introduction of another robo-advisor.
  • kathy Waite Your Net Worth Manager | 05 Oct 2015, 01:24 PM Agree 0
    This just proves how the big banks know once CRM2 is fully implemented and people see what they have been paying , start asking questions about returns they know there will be clients leaving. Launching this is an indirect indictment of their own distribution channels gouging and lack of care for the small clients. Bank advisors should be very worried , in the Uk the top 3 all did away with the sales force for small clients only the HNW survive.
  • George Christison ( | 08 Oct 2015, 02:46 PM Agree 0
    More than anything, I think the banks see Robo-Advisors as a solution for the next generation of Canadians - all those "small" investors they refused to accept as clients at the full-service brokerage firms (because they didn't have $250,000 or more to invest) and those investing at the branch level (bleeding them with high mutual fund costs). Robos give the banks a new way of holding onto investors' money and the fees they pay. Let's face it, over the past 20 years, investment advisors have been reduced to "puppets" for the money managers in Toronto. So does it really matter if we buy our investments from a Robot or a Puppet??
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