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Robo Advisers Gain New, Younger Clients Amid Market Turmoil

March 30, 2020, 5:53 PM

TD Ameritrade Holding Corp., Betterment LLC and Wealthfront Corp. are among robo advisers attracting new clients as younger investors see a buying opportunity amid market upheaval.

Since the market downturn began, TD Ameritrade has seen new-account openings for its automated investing platform jump 150% from the same period a year ago, according to an emailed statement. Wealthfront investment said account signups are about 68% higher since stocks declined, and Betterment’s first-quarter increase is 25% from a year ago.

Automated accounts are generally cheaper because they use computer algorithms rather than human money managers. They’ve been especially attractive to younger ...