Anybody have any first hand experience with

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Anybody have any first hand experience with

Post by VulcanMan » Mon Jan 14, 2013 5:25 pm

I read about the service in a recent article in Bloomberg BW. They are a fee only financial planners ... Started by a Wharton dude.

Anybody ... have anything to share?


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Re: Anybody have any first hand experience with

Post by Tyr0ne » Mon Jan 14, 2013 5:51 pm

They look very new, and are offering a free membership until 2014, as they start adding more and more services and website features and presumably continue to build their adviser team. They are part of LPL Financial, which I also know nothing about, but according to this article, "NestWise will operate as a registered investment advisory firm and rely on both Veritat's [recently bought out] home-grown technology and that of LPL Financial's platform."

Appropriate for bogleheads: NestWise Fee Schedule

edit: grammar
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Re: Anybody have any first hand experience with

Post by nisiprius » Tue Jan 15, 2013 12:49 pm

Their goal is "to provide the mass market with access to high-quality and affordable personal financial advice." Seems like a great big trend.

A site named AdvisorOne opines "the mass affluent consumer is on the verge of overtaking the high-net-worth client as a desirable customer base for retail banks, according to an HNW Inc. survey released on Tuesday."

A WSJ blogger writes "The mass affluent—anyone with over $100,000 in investable assets—is a demographic that is hugely underserved by the RIA market. Historically, RIAs don’t think they can serve the mass affluent profitably. But that’s not true."

And there's Wealthfront, of which something called RIABiz says "Andy Rachleff has radically shifted his Wealthfront RIA from being a purveyor of other RIAs’ advice to being an advisor for a niche market of the mass affluent. The new strategy is to be an ETF manager but with an ear out for client goals and with Burton Malkiel, the famous dart thrower, calling some shots."

They say it is becoming "like Windhaven," whatever Windhaven might be, so that's another one.

All of us members of the "mass affluent" had better watch out, we have targets painted on our backs.
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