Robo-Adviser to Lend Money -- Not Just Manage...
What could go wrong?
Now the robots are coming after more than your investment adviser.
Wealthfront Inc. said in a blog post Wednesday that it will offer loans, calling the move a first among robo-advisers, which are known for wealth management using automated investing platforms. Through a partnership with RBC Capital Markets LLC, clients with at least $100,000 can take out loans of as much as 30 percent of their account value, using their portfolios as collateral.