http://www.bloomberg.com/news/articles/2016-02-05/the-rich-are-already-using-robo-advisers-and-that-scares-banks
Banks are watching wealthy clients flirt with robo-advisers, and
that’s one reason the lenders are racing to release their own versions
of the automated investing technology this year, according to a
consultant.
Millennials and small investors aren’t the only ones
using robo-advisers, a group that includes pioneers Wealthfront Inc. and
Betterment LLC and services provided by mutual-fund giants, said Kendra
Thompson, an Accenture Plc managing director. At Charles Schwab Corp.,
about 15 percent of those in automated portfolios have at least $1
million at the company.
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