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BETTERMENT CEO: Only a few robo-advice startups will survive

Morgan Stanley, a Wall Street giant, is convinced that only a "handful" of roboadviser startups will survive. The CEO of the largest roboadviser startup agrees. Roboadvisers provide financial advice or portfolio management online or via a smartphone application. Rather than using human managers to build portfolios, they use algorithms to determine where to invest. Global assets managed by robos could reach $13 trillion by 2025 in a best case scenario, according to a research note penned by a group of equity analysts at Morgan Stanley.
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