Advisers face growing competition from Internet services, reports say

10/31/2013 | InvestmentNews (free registration)

Internet-based financial advisers are winning over investors and are serious competition for conventional advisers, Corporate Insight and Cerulli Associates say. More than 100 startups for personal finance and investment are aggressively pursuing younger investors, Corporate Insight said in a report. Cerulli Associates says the number of retail investors using direct-to-investors online platforms run by discount brokerages has nearly doubled since 2008.

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