A new category of online service providers — sometimes referred to as «digital advisors» or «digital advice providers» — has emerged in the financial services industry alongside
traditional human advisors.
In a majority of cases, companies are able to offer robo advisor services with significantly lower fees than
traditional human advisors while still maintaining approximately the same return on investment.
A robo - advisor is designed to offer much lower costs over using
a traditional human advisor as portfolio management and ongoing goal tracking are managed entirely by the client.
Not exact matches
If the investor needs more hand - holding and more of a
human touch and has more complex financial issues, then a
traditional brick - and - mortar
advisor might be more appropriate.
Paladin Research & Registry has compiled a list of five ways these new, so - called robo -
advisors differ from
traditional brick - and - mortar financial advisory firms staffed by...
humans.
4) Robo advising has advantages over
traditional human financial
advisors.
If you prefer having direct
human interaction regarding your investments, you're best to stay with
traditional investment
advisors.
That applies whether you're a
traditional do - it - yourself investor using a discount brokerage account or opt instead for the part - way solution of a robo -
advisor, which automates some of the
advisor's functions while offering very limited
human assistance.
What do these
advisors have that
traditional (and might I add - 100 %
human) financial
advisors don't?