SigFig, a free online service that “makes it easy for everyday people to manage and improve their investments” is now powering a DIY portfolio performance reporting for USA Today’s website and just signed a deal with Yahoo Finance to provide technology for its portfolio tracker.
This Website Is For Financial Professionals Only
“Designed to work effortlessly, SigFig automatically pulls your 401k, IRA, trading, and advisor account data into one place—giving you a real-time view of all your investments across all your desktop and mobile devices—no manual data entry required,” according to the company’s fact sheet. “SigFig’s patent-pending technology then diagnoses your portfolio and gives you personalized investment advice to help you save and make more.”
Among SigFig’s board members are executives from Charles Schwab, Yahoo!, Personal Capital, and The Wall Street Journal.
For advisors who are not adopting new technology, improving efficiency, and expanding beyond investment advice, apps like this pose a growing threat.