Robo-Adviser Startups Are Now Going After Wealthy Clientele
- Ellevest, Wealthfront and Betterment are targeting the rich
- Robo-advisers look to expand beyond low-cost products
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Robo-advisers were built on the promise of offering wealth management expertise to the masses. Now those startups are turning their attention to a different -- and much wealthier -- customer.
Betterment LLC, the largest startup in the automated financial advisory market, said Wednesday that it’s adding a tool for some clients to adjust investment allocations in more granular ways. The service is limited to those with at least $100,000 under management by Betterment.