Millenials Trust Fintech in Personal Investing

What you need to know: Millenials invest using financial robots, instead of investment advisers. They are disrupting the wealth management industry by demanding efficient methods of investing. While financial advisors cater to baby boomers, technology companies like Betterment and Wealthfront have tapped the millennial market by allowing them to invest as little as $5,000. Some wealthtech companies charge low fees while some of them do not charge at all.

Why it is important: The millenials generation are the rich people of the future, and they want to see Uber expressed in their investments, so incumbents must adapt. Also, the growth of personal investing using technology allows people with less money to earn money in an industry otherwise reserved to those high net worth individuals or companies.

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