Santander is preparing to launch a pure-play robo-adviser with SigFig, a digital adviser and technology provider, a recent regulatory filing shows.
Clients who use the robo, Santander PathFinder, will be slotted into model portfolios created by SigFig that are composed of ETFs, the bank disclosed in November. The filing did not specify which ETFs had been selected for the portfolios. However, the ETF models available will range from conservative to aggressive.
An algorithm will recommend portfolios to clients based on the information that they provide in a risk tolerance questionnaire, the filing notes.
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