Apps aimed at the very wealthy have lagged behind those for other groups, but there's interest in developing them, especially ones that track total net worth.
New financial products may be exciting for wealth managers — but one group of people isn't benefitting, warns Neesha Hathi, the chief digital officer for Charles Schwab.
Big banks and wealth managers are unwilling to sacrifice fee income and make other changes to catch up with their customers' digital demands, fintech leaders said.
In an investor-backed power play, the robo tech firm wants banks to turn to it instead of traditional core software providers as they upgrade to digital-banking-friendly technology.
Most big banks are launching robo-advisers to compete for a new breed of wealth management customer. The risk is that automated services will disappoint traditional customers.
Venu Krishnamurthy is joining the asset management giant at a time when it is reorganizing itself and tinkering with product offerings to ward off fintechs and other challengers.
