Robo advisors

Digital wealth management firms see the way to reach millennial clients is through student debt.

Banks and credit unions can test whether they want to get into the investment services business without bringing in advisers or partnering with a TPM.

Hedgeable plans to offer P2P lending investments, claiming it will be the first digital wealth manager to do so.

Custodian entering crowded field; minimum initial balance will be $5,000.

No financial solution can gain momentum without the collaboration of technology and human capital. But robos are only one small part of this equation.

"We are not going to have a separate robo adviser that would disintermediate our existing advisers," says CEO Paul Reilly.

Executives say it's about more than just robos.

Several big banks are getting into the business, mostly by forming partnerships with fintech companies. Smaller banks are expected to soon follow suit.

With more than 15,000 advisers overseeing $1.4 trillion, the wirehouse would be one of the largest entrants into the digital advice space.

Technology changes the way products are priced, bought and sold.