Wells Fargo turns to SigFig for robo-advisory
SigFig, a San Francisco-based fintech start-up, is partnering with Wells Fargo to provide the bank’s clients with its robo-advisory tech and wealth management tools, according to Reuters.
A pilot version is going to be rolled out in H1 2017, Reuters reports.
David Carroll, head of wealth and investment management at Wells Fargo, says the new offering “will mark an important step forward in delivering financial advice to the next generation of investors”. It will also build “a long-term pipeline” for the bank’s full-service business, he adds.
SigFig is part owned by another banking giant, UBS. UBS Wealth Management Americas (WMA) has also formed a “strategic alliance” with the fintech start-up. SigFig will create and customise digital tools and services for UBS WMA’s 7,000 advisors.