In this day and age, we’re spoilt for choice. Fund managers are no longer limited to Human Financial Advisors, there are also automated Robo-Advisors that can do the same job at a lower fee.
If you are still unsure about what exactly Robo advisors are, they basically offer low-cost diversified passive investing where algorithms help recommend you stocks and manage your portfolio.
Main Differences Between Robo-Advisor And Human Advisor Robo-Advisor Human-Advisor Fees 0.2% - 1% of total invested per year 2% - 3% of total invested per year Services Manages investments Manages investments + More specialised services (Eg. Tax advice, Estate planning) Good for - Beginners- Less complicated investments
- "Lazy" Investors - Experienced investors with more assets
- More complicated...