By Abbie
There used to be two options when
you were dealing with financial issues.
You could either do it yourself or hire a FIA (Financial Investment
Advisor). An FIA would be great if you
had a ton of money, but if you're young and/or have a low net worth, it's not
ideal. Basically, robo advisers do what
a human advisor does, but for less money.
Now there are still things that humans do better, like answering tricky
questions, but since it's cheaper it's worth it. Despite this, robo advisers can manage more
accounts than a human can, so really it there's are pros and cons just like
with everything else. Besides, today we
have the internet we can go to for any questions we may have, and while
sometimes people online can lead you wrong, there's a lot of information to be
found. People are also greedy at times,
so working with humans isn't always the easiest to do.
I like the idea of working with a
robo advisor instead of a human one.
It's likely less awkward than dealing with a real person and it's
cheaper. I think it's lack of ability to
answer certain questions can be fixed by looking for help online, and that's
really the biggest downside that I found.
It seems a lot less confusing, too, and great for those just beginning
to deal with finacial issues.
