Bloomberg Law
March 30, 2020, 5:53 PM

Robo Advisers Gain New, Younger Clients Amid Market Turmoil

Olivia Rockeman
Olivia Rockeman
Bloomberg News

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 ...

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