The SEC has sent perhaps its clearest signal yet that that robo advice platforms are here to stay, offering guidance to the industry, along with an investor bulletin that together seem to legitimize automated investment offerings, while also warning firms about steps they must take to ensure they are in compliance.
In its directives, the SEC notes that firms offering digital advice operate under an array of models, with some offering highly automated, algorithm-driven services, while others layer in a higher level of human interaction.
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