The latest in financial #AdviserTech — June 2021 investmentnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentnews.com Daily Mail and Mail on Sunday newspapers.
June 17
Betterment already partners with the other companies in the RIA Tech Suite and noticed a significant amount of shared customers, says Jon Mauney, general manager of Betterment for Advisors, when asked why it selected these three out of the entire market of wealthtech providers.
“The four companies involved represent a fairly complete solution for what an advisor needs to run their practice,” Mauney says. “Especially for new RIAs that are looking for a tech stack.”
The package is similar to what advisors can find at the XY Planning Network, says XYPN co-founder and
Financial Planning contributor Michael Kitces. XYPN has offered Wealthbox to members since 2014, and Betterment and RightCapital since 2015, but provides a proprietary compliance tool rather than RIA in a Box. The network, which is an organization of fee-only financial planners focused on Gen X and Gen Y clients, has four additional vendors on its technology platform, Kitces says.
June 8
Concerning education, there was not a racial wealth gap for households headed by non-college graduates. However, when Morningstar looked at households headed by college graduates, it found that debt may play a major factor holding higher-educated households back from saving.
“Black families with a college graduate as a head of household do save more than less educated households, but white families led by college graduates save even more,” Michael Thompson says.
“You graduate college and you have debts, and often as is the case with me personally and many other successful Black professionals that I know we re not only supporting ourselves but we also have extended family members to support just because of the total community impoverishment that s happened as a result of the injustices that are part of living in the United States as a Black person,” Robasciotti says.
Going long with Michael Kitces and Ben Harrison investmentnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentnews.com Daily Mail and Mail on Sunday newspapers.