Robo-Advisor Platform Halts Trading Following Brexit Vote

Aren’t the robo-advisors selling their services as passive investors?   In this case, they’ve decided that being a passive investor means no access to the markets.  Sounds like human biases and active management is an issue even in the robo platforms.

 

Betterment, the leading independent robo-adviser, pulled a Wizard of Oz moment on Friday when it decided to delay trading for two and a half hours to protect investors from market volatility following the shocking Brexit vote.

Source: Betterment’s move to halt trading following Brexit vote sparks controversy

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