A Fintech side-effect: Excessive Corporate Control by the Big Three.

The article discusses the implications of the excessive corporate control of large U.S.-based investment companies Blackrock, Vanguard and State Street for the exchange-traded fund (ETF) sector in 2020. It mentions the role of robo-advisory financial technology (fintech) in growth of ETF in 2019. The concentration of power among the firms is attributed to the growth of low cost investing and digitization of investment. It emphasizes the need for more fintechs in the shareholding voting process.