Robo Advisors: A personal experience Part 1: Getting started

There have been a lot of commentary about the prospects of this type of service gaining traction especially with younger people or people who have minimal assets but want to get exposure to the overall stock market without doing all the legwork. Instead of writing about these services in theory, I decided to actually put my money where my mouth is and actually invest some money with a Robo-Advisor service and blog about the whole experience and more importantly track the performance and costs that these services generate. In this post, I walk through the process of registration.

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Coming To Disrupt A Financial Industry Near You: Robo–Advisors

In the U.S. several companies have made a bit of a splash offering a service that will manage their investments online using sophisticated algorithms to automatically select appropriate investments based on the client’s risk and demographic profile. The kicker is that because of the minimal overhead, they can charge ultra-low fees. The premise is that the traditional financial advisory model is broken because advisors are focused on selling product rather than genuinely working to help people meet their financial goals. Well I thought I would mind map the pro’s and cons of what could be a model that could disrupt the whole advisory business.

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