Acorns sure seems ripe for Robinhood's picking now that there are zero degrees of separation post-Say Technologies deal, analysts say
Brooke's Note: In the end, everything involving Wall Street evolves toward becoming an RIA. It took Wall Street decades to make the move. The world now moves much faster. The underlying issue is moral sustainability combined with a need for recurring revenues. A transactional model is not only a questionable underpinning, ethically, but it's also a treadmill of a business model. What's interesting is seeing how the grass is always greener on the other side. The robo-advisors are building in more self-direction because Robinhood is having all the early success in sheer volume. Young investors with thin wallets found the idea of the 'democratization of finance' to be the freedom -- however illusory -- that free trading gives them. Robo-advisors, by contrast, were not only boring but also smacked of patriarchy. Give us your money, and we'll do what Eugene Fama's dusty efficient market models tell us to do. Now we'll have to see if a merger between an RIA and a broker makes sense in the sped-up digital app world as the owners of Robinhood and Acorns mingle in M&A world.