Ritholtz Wealth Administration has launched Good Recommendation, an automatic wealth administration service that features asset administration, monetary planning and monetary consulting, based on a current submitting with the Securities and Alternate Fee. The platform is configured to information shoppers “by means of the complete funding administration course of,” it mentioned.
The brand new service requires a minimal account steadiness of $15,000, the submitting states, including that “the utmost whole price charged for our Good Recommendation service is not going to exceed 0.50% of property underneath administration.”
The disclosure comes lower than three months after Ritholtz confirmed it was shopping for BlackRock’s direct-to-consumer FutureAdvisor robo enterprise.
It wasn’t instantly clear if Good Recommendation Automated Wealth Administration is Ritholtz’s model of the previous BlackRock robo-advisor. An out of doors spokesman mentioned Ritholtz had no remark Wednesday afternoon.
Liftoff, the agency’s older robo-advisor, additionally fees a price of as much as 0.50% of property, which it splits with Betterment Securities; Betterment operates Liftoff on the Betterment for Advisors platform. Not like Good Recommendation, Liftoff requires no minimal funding.
Betterment didn’t instantly reply to an e-mail asking whether or not it’s partnering with Ritholtz on the Good Recommendation robo advisory.