Wealthsimple and other robo - advisers say a growing number
of traditional advisers are keen to lower their cost of doing business and pass on savings to their clients.
Because they use less intermediaries and low commission products (like ETFs) they charge much lower fees than
traditional advisers.
Compared to
a traditional adviser, charging upwards of 1 % a year, Personal Capital is very affordable you need to seriously consider it if you are looking for advice on your portfolio.
Betterment is a totally digital service; all transactions occur online, leading to less time and cost spent on investment management than with
a traditional adviser or wealth manager.
These programs not only make investing more convenient — they're also a lot cheaper than
traditional advisers or brokerage accounts.
As an individual investor, you'll still need to figure out which funds to buy, or let us do it for you at a fraction of the fees
a traditional adviser charges.
After working with
a traditional adviser for more than a decade, Ken Chin - Purcell, 57, decided to move his money to Personal Capital, a hybrid service that combines digital financial tools with human advisers.
Robo - advisers gained some traction in the DC industry this year, and many have come to see how the technology could work with, rather than against,
traditional advisers.