Note from the Publisher: The latest entrant into the robo-advisor market is Zacks Investment Management. Zacks is known for its extensive financial research, but in fact its Investment Management division manages over $3.3B in its own SEC-RIA, utilzing their own reasearch. The new robo is powered by Schwab technology. One of these days, we’ll have to do an overview of all the new robos in the market, it seems like there’s two or three new ones weekly now.
“Zacks Investment Management has launched an actively managed robo-advisor that uses the Zacks’ own research, ETFs and a technology platform developed by Charles Schwab.
The Zacks Advantage program targets investors with $100,000 and up to invest; these accounts have a 0.35% fee. But accounts can be opened with as little as $5,000 with a 0.5% fee.
The company currently offers new clients a 30% discount on these fees for the life of the account as part of the rollout, according to Scott Schneider, the platform’s president.
‘Zacks may be the newest entrant to the digital-advice marketplace, [but] it is no stranger to investors,’ Schneider said in an interview.”