SigFig

With assets under management (AUM) of around USD 835 million as of Q1 2020, SigFig provides hybrid services to individual users that have brokerage accounts with Fidelity Investments, Charles Schwab, and TD Ameritrade (business-to-consumer or B2C). This suits investors who are not comfortable trading directly through robo-advisory platforms. SigFig also licenses its software to financial institutions such as advisory firms, banks and brokerages through partnerships (business-to-business or B2B). Unlike other major robo-advisory startups, SigFig has not offered checking and high-yield cash accounts. Instead, the company focuses mostly on collaborating with other businesses to expand its client base. Among the most recent ones is a personalized interactive financial advice platform, Atlas, for retail banks, as well as CoPilot, a platform for advisory firms. The company stated that CoPilot is more advanced than other SigFig products because it can execute a wider range of investment strategies and track users’ activities (both advisors’ and their clients’).

The platform does not charge for accounts smaller than USD 10,000 and only requires a minimum account balance of USD 2,000. Meanwhile, the standard service for balances above USD 10,000 comes with unlimited access to human advisors—unique for a company that does not charge a premium price (fees stay the same, at 0.25%).