Personal Capital CEO Says Banks Need to Change Attitude

The video discusses JP Morgan's use of consumer data and the concerns it raises. It explores the fiduciary rule, which mandates financial advisors to act in the best interest of their clients, and the industry's attempts to delay it. The video contrasts Personal Capital's approach of combining digital tools with human advisors against robo advisors like Wealthfront. It concludes with a discussion on the future of financial services in the digital age, emphasizing the need for adaptation to low-fee structures.

What are the two main actions that big banks and brokers are taking regarding the fiduciary rule?

How does the speaker describe the relationship between banks and their customers in terms of financial data access?

What concerns does the speaker raise about the current practices of financial advisors?

In what way does the speaker differentiate Personal Capital from robo-advisors?

What does the speaker believe will be the future of financial services delivery?