Market Share of Robo-advisory Services Industry
The competitive landscape of the Robo-advisory Services Market is consolidated owing to the presence of major players like Betterment LLC, Wealthfront Inc., and The Vanguard Group, amongst others holding the majority of the market share. These market players are making product innovations to capture maximum market share globally. Also, several economies' governments are stimulating smaller vendors to enter the market with innovative products or by forming strategic collaborations.
- In November 2023 - Wealthfronthas announced that the company now oversees more than USD50 billion in assets for over 700,000 clients, largely young professionals across the United States. Wealthfront's Investment Team constantly monitors the changing investment landscape and evaluates opportunities to help clients invest in the latest industries and trends.
- In Spetember 2023 - Betterment, the largest independent digital investment advisor in the U.S., announced today the launch of a new Bitcoin/Ethereum Portfolio as part of the crypto investing by betterment suite. The new portfolio provides direct access to the two largest cryptocurrencies in the market for investors who are interested in gaining exposure to crypto as part of their long-term investment strategy.
- In November 2022, JPMorgan Chase was filling in a gap in its suite of wealth management services with the launch of a hybrid robo-advisor program that would offer investors a digital investment platform and ongoing access to a human, financial advisor. J.P. Morgan Personal Advisors is open to all investors, but the company envisions it primarily serving banking or credit card customers who are interested in wealth management services but wouldn't be inclined to engage with J.P. Morgan's in-branch advisors.
Robo Advisory Services Market Leaders
Betterment LLC
Wealthfront Corporation
The Vanguard Group, Inc.
Charles Schwab & Co., Inc.
BlackRock, Inc.(FutureAdvisor)
*Disclaimer: Major Players sorted in no particular order
