The 401(k) plan of Aegis Media Americas is charged with not using less expensive funds
The tech provider takes over the management of 28 proprietary alternative investment funds and the Open Network platform
The robo-adviser is designed to serve small to midsize independent advisers at an attractive price point
Its tool is already available on the Charles Schwab and TD Ameritrade Institutional platforms
The purchase will help the discount brokerage develop thematic and direct indexing for clients
The digital wealth management platform had been up for sale since January
As advisory firms become more comfortable with using digital tools, new tech could make some jobs obsolete
After announcing the products in July, the robo-adviser finally made them available to all 500,000 clients last week
While advisers may not have resources to step up marketing campaigns, tech firms are stepping in to streamline the process
The automated investment platform, which raised roughly $126 million in funding since launching in 2012, is just the latest digital wealth manager to shut down
