"Even as many financial advisors try to shift upward from the mass-affluent segment to a wealthier clientele, some new Internet-based startups are aiming their services at the not-so-rich," says Wall Street Journal blogger Ruithie Ackerman.
This Website Is For Financial Professionals Only
While online investment platforms aren’t new, such fledgling services as Wealthfront
are trying to distinguish themselves with new programs to provide advice electronically. The investment minimums are as low as $5,000 – or even nothing at all.
I've been covering the trend and believe a shakeout
is coming to the advisor business over the coming decade.