Wonder

Research Outline

Prepared for Stine | Delivered October 30, 2019

Holistic Financial Advisory Tools

Goals

To understand the global competitive landscape for a holistic financial advisory tool aimed at the mass affluent.

Early Findings

 Wealthfront, based in Palo Alto, CA, is a self-service financial planning tool that uses computer algorithms to help consumers manage their investments and savings. NerdWallet named Wealthfront as the best among these self-service tools.
 FacetWealth, based in Baltimore, MD, is an online financial planning tool that matches consumers with a certified financial planner who assists with the planning process. This tool offers a virtual dashboard where clients can access their financial data, as illustrated in the video at this link.
 Betterment, another NerdWallet top pick, offers two service options, one of which offers the options of connecting with a human certified financial planner. Betterment, based in New York City, offers virtual advice on investing and saving. 
 Personal Capital, based in San Carlos, CA, is a hybrid tool that uses robo-advisor artificial intelligence with a dedicated financial planner. The process involves linking all of a consumers accounts (retirement, mortgages, banking, savings, and credit cards) to provide a holistic view, followed by a conversation with a financial planner who helps to devise a plan and launch the investing.
 Empower specifically targets the mass affluent market with its "digital, consumer-focused wealth management platform." The Denver-based tool offers an intuitive interface to help consumers plan for their retirement, offering "investment advice, financial planning and insurance through a single user experience."