It seems that robots are everywhere. From our factories and businesses to our livings rooms, robots are doing more and more jobs that were once performed by humans. And most of us have no problem with an automated machine vacuuming our floors or building our cars. But what about hitching our retirements and future savings up to one?
Well, it’s happening. The birth of the robo financial advisor is here.
The growth in assets at these aptly dubbed ‘robo-advisors’ have surged in recent years as more investors look to simplify their portfolios, potentially boost returns and lower costs. Even some of Wall Street’s elder statesmen have made the move to capture a piece of the robo-advisor pie.
But the question is, should you let HAL 9000 run your portfolio? Or are you better off doing it yourself?
Let the Computers Do It
While there is no hard and fast definition for robo-advisors, they do share several things in common.
