Why Read This
Digital financial advice platforms deliver free or low-cost investment and other financial guidance to consumers who are planning for goals such as home ownership, education, and retirement. Startups like FlexScore, Jemstep, Personal Capital, and SigFig use software to create recommendations specific to the individual. They hope to appeal to consumers who cannot — or choose not to — get person-to-person advice. Previous generations of online advice have sputtered. But with consumer confidence in digital advice rising and technology improving, digital financial advice will be a disruptive force in retail financial services.