Why US Bank, UBS, JPMorgan All Shut Down Their Robo Advisors

US Bank’s robo may have gone the way of the dodo, but automated investing tools aren’t extinct just yet. US Bank officially shuttered its robo advisor last month due to “evolving market conditions and customer preferences,” the bank said in an email. Called Automated Investor, the robo accounts were automatically moved to either self-directed options or its Wealth Connect advice service. The move is the latest by a major bank to nix its robo offering, following UBS winding down its robo in June and JPMorg ...