Online-only advisory services are poised for growth

08/29/2013 |

Several tech firms that are also RIAs are set to come online in September, using algorithms to offer clients financial advice and investment recommendations. These firms have raised $70 million collectively this year, according to one analyst's estimates. Some say the trend will disrupt the way investors seek advice, while others say algorithms can't fully replace traditional financial planning advice, and high-fee firms are most at risk.

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