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Other custodians are skeptical that financial planners want the tool in the first place.

In addition to launching an automated investing app, the bank created a dedicated advisor unit to provide personal service to customers when they need it.

Tech is making it easier for advisors to break away, but navigating the complex vendor landscape can be challenging, says the firm's director of RIA practice management.

Barriers to adoption for RIAs include security concerns and fear of increased client anxiety.

Digital firms are launching platforms to cater to faith-based investors.

The deal will accelerate the firm’s digital-heavy client strategy, CEO Andy Rachleff said.

Regulators and observers warn there are risks to mixing show business with investment advice.

The sector may be edging into dangerous territory, analysts say.

The deal comes amid a flurry of similar digital investment acquisitions made by competing banks.

Acquiring clients can be expensive. Some digital investing platforms have turned to a marketing strategy they say may present “conflicts of interest.”