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Betterment will begin offering a "premium" plan that will combine human advice from financial advisors alongside its automated service for 50bps of AUM. The 50bps plan will feature unlimited financial advice and require a $250k minimum balance.
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Josh Brown, CEO of Ritholtz Wealth Management, said that eventually all robo-advisers will see this convergence. “Automated allocation software is just a tool, employed by human firms, like email,” he said in an interview. “We won’t be drawing any distinction between advisers and robo-advisers in the end.”
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