Imitation is the sincerest form of flattery, but robo-advisor firms like Wealthfront and Betterment might not feel so flattered.
According to research from global analytics firm Cerulli Associates, the entrance of Charles Schwab and Vanguard into the robo space will make it difficult for existing robo firms to compete.
"For [robo-advisors], imitation is a serious threat to their continued existence. These firms have rolled out innovative ideas, but the existing financial services industry has ample resources available to replicate the robo-advisor business model," Frederick Pickering, research analyst at Cerulli, said in a statement.
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