Not so long ago, Robo-Advisor appeared. It was 2014 when the betterment presented their robo-advisor, the world’s first back then. They design for the newbies with a little knowledge about trading, investing, and for those who don’t have enough assets.
On the other hand, the financial advisors have already been there since 1963. They helped different sectors, businesses, and freelancers, and traders. Now that Robo-advisors are here, does it mean the need of financial advisors will also decrease? That will unlikely to happen.
We are about to show the difference between the robo-advisor and financial advisor, and the benefits of each platform.
Facts About Robo-Advisor
Getting a robo-advisor is convenient. It relies heavily on technology, so it comes with many advantages. They have automated investing strategies, like MPT or modern portfolio theory (MPT). It assists in optimizing your ideal asset class weights in a portfolio by asking your given risk preference.
If a person performs this task, it would take hours or even days to finish. Apart from that, it can be prone to a human error.
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