Subscription Pricing Models for Digital Advice: Where’s the Sweet Spot?

Charging for advice is likely to become a more mainstream idea.

Boston, June 30, 2020 The combination of business model pressures and investor demand for advice across client segments is encouraging firms to experiment with new fee-based advice delivery models that can scale to support millions of clients, backed by strong digital tools and virtual advisors. But will investors pay for a service that traditionally has been provided free, and at what price?

This brief looks at how interested households earning at least US$100,000 in annual income are in receiving and paying for financial advice delivered through a digital platform. This brief follows a more comprehensive Aite Group report on U.S. consumers’ financial wellness situations and their interest in using a virtual financial coach to receive financial guidance and advice.

Clients of Aite Group’s Wealth Management service can download this 12-page Impact Brief. To learn more about the topic covered in this Impact Brief, please contact us at [email protected].

This report mentions Betterment, Charles Schwab, Facet Wealth, Fidelity, Merrill, SoFi Wealth, TD Ameritrade, and Vanguard.

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