RBC shared during an earnings call last week that they intend to launch a direct-to-consumer bank in the US in...
Monzo now had 4 million customers in the UK which equates to just over 1 in every 16 people in...
With the shift to work from home many banks are dealing with situations they might not have ever had to...
Digital banking startup Chime is looking to ride the wave of challenger banking and provide customers with a better experience...
Envestnet has almost triple revenues in the last five years, in part because of their acquisition strategy; some are beginning...
In an interview with RIABiz Personal Capital Founder Bill Harris talks about the outlook for his firm, the growth they have seen and some of the challenges with growing their brand; they do not consider themselves a robo advisor, they are more complicated and detailed with call centers and multiple strategies; they currently have $4.9 billion in assets under management which is more than five times the $1 billion in assets under management they had in January 2015; Jay Shah, CEO of Personal Capital, tells RIABiz, "Our rapid growth reaffirms that we are solving a major pain point for consumers by giving them conflict-free advice and full transparency and insight into their financial lives."; they are not as cheap as Betterment or Vanguard yet they are gaining market share and their average account is $380,000; the company has received over $200 million in venture funding with the most recent round of $40 million closing yesterday; the interview also goes through the pains of building their brand and the different strategies they offer to clients. Source
Over $3 billion has been raised this year by initial coin offerings; Tech Crunch shares the current warnings that the market has received from regulators; some market participants report that they have spoken with with the SEC and it is expected that we will hear much more from regulators as we enter 2018. Source
A new study by J.D. Power shows only 4 percent of consumers switched banks accounts to a new institution last...
PwC is out with new research saying alternative asset volumes will double by 2025; alternatives will make up about 15 percent of global assets under management by 2025 because investors are looking for diversification and reduced volatility; Rob Mellor, PwC asset management partner, tells AltFi, “We have seen the rise of the multi-strategy alternative manager and an increasing trend for traditional active managers looking to add alternative strategies to their product range.” Source.
The U.S. Securities and Exchange Commission has filed a lawsuit against Canadian messaging app Kik over their $100mn initial coin...