The two companies have created a robo-adviser with financial literacy tools to help people understand the basics of investing as they assemble their first portfolio.
Services with simpler fees and intuitive digital designs might appeal to younger users, but millennials have much more on their minds than saving for retirement.
TIAA, the nearly 100-year-old retirement and insurance company, is starting an online robo-adviser this week, making it the latest firm to use automated advice to win customers in a rapidly changing asset-management industry.
Fintech has upended parts of the banking industry and made old ways of doing business obsolete. But that's also what makes it an exciting time to be a banker, says Citizens Bank CEO Bruce Van Saun.
Wealthfront is the first of the tech-powered financial advisers to offer securities-based lending. It will compete with the likes of Wells Fargo and Morgan Stanley.
