Portfolio

More than one-third of the $1 billion new assets on the digital advice platform are from new clients.

Expense ratios associated with the new products range from 0.05% to 0.07%.

The advice industry’s current structure is “dumb” and in need of fixing, according to Betterment CEO Jon Stein.

The transition is expected to take place within the next 12 to 18 months, however the firm says it will still manage the products’ underlying investments.

Overall donations to charity organizations fell by 1.7%, while total individual giving decreased by 1.1%, the first drop since 2013.

Regulators are asking cannabis fund providers to produce third-party legal opinions verifying they don’t violate state or federal laws.

The brokerage may pay about $2 billion for the additional advisory clients, according to reports.

Independent Advisor Alliance also started a robo advisor under Betterment for Advisors after adding more than $2 billion in assets over the past 12 months.

The $3.7 million fund returned more than 40% in the second quarter, outperforming all domestic non-leveraged ETFs.

We’ve reached the point where we need to move beyond the ad hoc approach that has previously characterized professional development.