The wealth management industry has seen increased press coverage lately. Take, for example, The Economist's recent piece discussing how increased competition from startups has tempted clients into moving assets to lower-cost alternatives.
The article mentions DCisions, a startup tackling the big data around client portfolios. It also highlights Personal Capital, which launched at FinovateFall. The Economist states that the startup's online platform:
"... tries to straddle the world between cheap online wealth management and the old world of private banking"
The article states:
To ease this concern, the article recommends using
"With no other fees to compare your own to, you could wind up paying for far more than you should - especially if your broker's working on commission."
DIY tools such as SigFig, FutureAdvisor, or Jemstep. These tools help you see how your funds are performing and how much you're paying in fees.
To learn more about these companies, watch DCisions' FinovateEurope 2012 demo, Personal Capital's FinovateFall 2011 demo, SigFig's FinovateFall 2011 demo, FutureAdvisor's FinovateSpring 2012 demo (coming soon), or Jemstep's FinovateSpring 2010 demo.