ETrade Financial Corp. is launching a robo-adviser, with a twist: human beings.
The discount broker follows in the footsteps of Charles Schwab Corp., which built its robo-adviser last year, and of startups including Betterment and Wealthfront. Like competing products, ETrade’s Adaptive Portfolio will automatically build custom portfolios for clients at a fraction of what a human financial adviser would charge. But deep in the gears of ETrade’s robo-adviser, people are fully in charge, defying contemporary investing trends.
