Imitation is the sincerest form of flattery, but robo-advisor firms like Wealthfront and Betterment might not feel so flattered.
According to research from global analytics firm Cerulli Associates, the entrance of Charles Schwab and Vanguard into the robo space will make it difficult for existing robo firms to compete.
"For [robo-advisors], imitation is a serious threat to their continued existence. These firms have rolled out innovative ideas, but the existing financial services industry has ample resources available to replicate the robo-advisor business model," Frederick Pickering, research analyst at Cerulli, said in a statement.
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Emily Zulz
Emily joined the ThinkAdvisor team as a reporter in the summer of 2014. She previously worked as a reporter for The Daily Journal in Kankakee, Illinois for a year and as a reporter and editor for The Daily Eastern News in Charleston, Illinois for two and a half years. Prior to joining ThinkAdvisor, Emily worked on Groupon’s editorial team in Chicago as a fact checker for three years. She graduated cum laude with a BA in journalism from Eastern Illinois University, and she has been the recipient of two journalism awards for her news reporting at daily newspapers.
