As our world becomes increasingly digitized, it's no surprise that investment management has followed suit- online investment platforms, also known as robo-advisors, are popping up everywhere. Women are especially taking notice: According to a survey by TD Ameritrade, more women than men currently use a robo-advisor (16 percent of women versus 10 percent of men). And as more Americans are taking an active role in managing their finances (60 percent describe their investment approach as “hands on,” according to a Merrill Edge Report), robo-advisors offer an easy, unintimidating tool for doing it - and doing it well. Rather than relying on (and paying for) a human advisor to suggest and make changes to your investment portfolio, these platforms use computers, crunching complex mathematical algorithms to automatically adjust your investments and create affordable investment portfolios. In some cases, the platforms use “hybrid” investing, which relies on a combination of expert insight and online management. Below, we explore the pros and cons of using a robo-advisor- and which ones to try out, should you decide to take the plunge. The post Pros and Cons of Robo-Advisors appeared first on DailyWorth.
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January 2019
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