MARTINSVILLE, NJ / ACCESSWIRE / October 30, 2019 / The 13th Edition of The Robo Report™ has been published by Backend Benchmarking for the third quarter of 2019.
"It's been a very interesting quarter with a new race to zero commissions in a fees war that was catalyzed by Schwab, with Fidelity, TD Ameritrade and ETrade next to follow. The key remains to be that they make money on client cash and other non-commission-based revenue streams. Can this continue as investors and the media catch on as evidenced by a recent Wall Street Journal article. That remains to be seen," said Ken Schapiro, Founder of Backend Benchmarking, Publishers of the Robo Report (TM).
Highlights from Report:
• SRI portfolios post stronger returns than their non-SRI counterparts.
• SoFi reimburses customers after questionable trade.
• Cash accounts help drive assets onto digital advice platforms.
• Fidelity Go and Axos Invest emerging as long-term outperformers.
• JP Morgan enters the market, Vanguard expands.
Some Takeaways:
• SoFi continues to be aggressive with their marketing and product development announcing the launch of crypto trading and sponsorship of the new L.A. Rams football stadium.
• Schwab's high cash allocation is dragging on their performance.
• Betterment's profitability announcement implies $15 - $20 billion AUM is the level needed for profitability.
• Wealthfront and Betterments AUM growth over the last 6 months is largely driven by their cash offerings and market growth.
• Vanguard launching a lower minimum and cost robo will help them solidify their spot as the leader in this space.
• Schwab, Personal Capital, and Betterment continue to underperform in the two- and three-year time frame.
"In this past quarter, we introduced a range of new portfolios to further our mission of providing investors with transparency across digital advice platforms. Our report now includes returns for digital investing platforms M1 Finance, Motif, Chase You Invest, Titan Invest and Liftoff from Ritholtz Wealth Management. We are also reporting on a range of themed portfolios from Betterment (Active and Income), Morgan Stanley (Defense and Cyber Security, Emerging Consumer, Gender Diversity, Genomics, Global Frontier, Inflation Conscious, and Robotics), Schwab (Domestic Focus), TD Ameritrade (Income, Managed Risk, and Opportunistic), Wealthfront (PassivePlus), and Wealthsimple (Halal)," said David Goldstone, Head of Research for The Robo Report(TM).
The Report ranks the top three robos by performance in Equity, Fixed Income, and Total Portfolio as well as historical performance since each accounts' inception.
Backend Benchmarking opened and funded portfolios seeking a similar asset allocation to allow for comparison. The knowledge of the underlying assets held helps to understand the structure of the portfolio, the risk, and what is driving performance.
The Robo Report™ is available for free at https://www.backendbenchmarking.com/the-robo-report/. Follow the Report on Twitter @theroboreport.
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SOURCE: Condor Capital Management