By 
These Robo-advisors digital platforms have their advantages, especially in helping you with your trading needs. It’s important to know that Robo-advisors can differ from one brokerage to another, including the investment managers class, algorithms, and software used.
Not all Robo-advisors are purely automated. Some of them have human assistance. Throughout the process, they all provide customer service for you.
Learn more at https://www.roshi.sg/robo-advisors/
Here are the advantages and disadvantages of Robo-Advisors instead of human, financial advisors:
Robo-Advisors Advantages
Lower Fees or Capital
With professionally managed investment assistance, you are lucky to pay for less than 1% of AUM or assets under management. But you’ll find more low-cost robos that you’ll pay less than the typical charges for investment assistance.
For example, Charles Schwab Corp.’s Intelligent Portfolios cost zero assets, while the Betterment portfolio asks for as low as 1% of AUM. Most cost-conscious consumers choose Wealthfront and Betterment models.
More Financial Advisors Nowadays are White Labeling the Robo-Advisors
This adds to the Robo-advisor’s credibility. Some of the reasons why financial advisors are white-labeling some Robo-advisors are convenience and efficiency. They can now delegate the task related to choosing assets. As a result, they can address more financial planning issues, individual tax, and estate.
Retaining an advisor’s personal touch and using a Robo-advisor digital platform can add to your trading efficiency. It also saves your time.
Robo-Advisors Come With a Variety of Service or Purpose
There are various choices when it comes to Robo-advisors. They are not one-size-fits-all. Instead, they are helping individuals, depending on your financial goals. For example, Motif’s 151 existing portfolios would be ideal for sectors or investment themes.
Robo-Advisors Disadvantages
It’s Challenging to Build a Relationship With a Financial Advisor
Establishing a positive business relationship with your financial advisor can help with your financial and trading goals. However, Robo-Advisors don’t have face-to-face meetings. So, if you value a relationship with financial advisors who can provide for your needs, then the Robo-advisor platform is not for you.
They Claim That Robo-Advisors are The Only Go-To of Newbies
Some Robo-advisors are telling this claim to entice more newbies to use their platform. But this is not true at all. Several financial advisors accept newbie clients for an affordable price. For example, the XY Planning Network advisors are catering to younger and beginner clients.
Most of these advisors that accept newbies put a cap on their charges. If they are trading only from time to time, they only need to pay commission. That means the costs are still low.
Robo-Advisors are Not Yet Flexible
Since Robo-Advisors’ digital platform is still new today, they still need to work on its flexibility. Today, they allow clients to set goals through financial planning software. However, you might even want advice or chat with a human being to fix your money-related issues and concerns.
More on online stock trading platforms.
