"Following industry suggestions that robo advisors may be violating investment laws, SEC Commissioner Kara Stein is publicly questioning whether a fiduciary duty applies to automated advice -- and whether existing laws should be revised to account for the digital wealth management platforms.... [Stein's] questions touched upon [a recent report's] main thrust: that robos do not provide personalized investment advice, do not minimize investment costs, are not free from conflicts of interest, do not meet a high standard of care, do not act in a client's best interest, exclude ERISA accounts and do not meet the Department of Labor's proposed best interest contract as part of a fiduciary standard."  MORE >>