Off late Robo advising has been making all the right noises regarding financial advice. There seems to be a lot of potential and in future, the number of Robo advising companies are only expected to grow.<\/p>\n
Going back a few years, customers had a couple of options when it came to financial investing. They had to do all the investment themselves or hire a financial advisor. Hiring a financial advisor had limitations, the biggest being having a minimum asset requirement which was around $0.5 million. These advisors charged around 2% of your investment which meant around $10,000 annually. Comparing this to Robo-advisors which typically have a min investment between $25,000 to $50,000 and charge around 0.5% management fees. At the surface level, Robo advising seems a much better option but can it replace human financial advisors?<\/p>\n
Robo advising has the prospects of replacing financial advisors but in the end, I believe it comes down to individual preference. For many people wealth is personal and a lot of emotions are attached to it. They want to make future life decisions based on wealth and these people would not a want a robot advising them. At the same time, many people don\u2019t have the time, grasp of finances and desire to consider all investment options and would prefer a robot to give financial advice. Another point to ponder upon is, after 2008 financial crisis the markets have been on the rise. A financial crisis is imminent in the future and when this happens would you want a robo advising you or would you prefer a human who you talk to and share your concerns?<\/p>\n
References:<\/p>\n
https:\/\/investorjunkie.com\/35919\/robo-advisors\/<\/a><\/p>\n https:\/\/www.nerdwallet.com\/blog\/investing\/best-robo-advisors\/<\/p>\n","protected":false},"excerpt":{"rendered":" Off late Robo advising has been making all the right noises regarding financial advice. There seems to be a lot of potential and in future, the number of Robo advising companies are only expected to grow. Going back a few years, customers had a couple of options when it came to financial investing. They had … Continue reading Robo Advice vs Financial Advisor<\/span><\/a><\/p>\n","protected":false},"author":1692,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1624","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"srivaths","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/srivaths\/"},"qubely_comment":0,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"Off late Robo advising has been making all the right noises regarding financial advice. There seems to be a lot of potential and in future, the number of Robo advising companies are only expected to grow. Going back a few years, customers had a couple of options when it came to financial investing. They had…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1692"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1624"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1624\/revisions"}],"predecessor-version":[{"id":1625,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1624\/revisions\/1625"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}