I like what these guys, SigFig, Personal Capital and others are doing to shake up the wealth management space. However you certainly need plenty of dry gunpowder to build a successful B2C wealth management business. It takes scale to make money and to get scale you need to spend a lot of money to acquire a bunch of customers (and their assets). As the article here points out, on $500M of Assets Under Management, Betterment are probably making around $1.75M per year in fees.