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Retirely in The things you own end up owning you,

Envestnet buys baby robo-advisor to add 'last mile' to its grown-up platform

A recent development that is based upon advances in a new RIA technology is being applied by New York startup Gold Bullion International LLC in connection with the hedge fund Envestnet. GBI is a company that was formed in 2009 during the boom of the gold investment market had a vision of changing physical precious metal purchasing methods that are as old as it was thousands of years ago. Most all of the Envestnet independent broker reps will be able to access gold holdings and purchase gold alongside other brokerage investment products.

Joel Bruckenstein, producer of the T3 conferences, imagines that any TAMP would want a robo-advisor as a means to transform itself.

“I always thought robo-advisors were the next great SMA platform and I thought they’d put Envestnet out of business. Now they won’t because Envestnet owns one.”