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Investing Insights
3 of the Best Robo-Advisors, and One of the Worst
Sep 15, 2023
Morningstar portfolio strategist Amy Arnott and senior manager research analyst Gabe Denis discuss the blurring lines between robo-advisors and traditional financial advisors. They cover topics such as the benefits of robo-advisors, limitations of digital investment advice, and the best and worst robo-advisors of 2023.
16:12
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Quick takeaways
- Robo-advisors offer lower fees and personalized portfolios, making them accessible and beneficial for investors starting out.
- Robo-advisory services are not limited to younger investors and are being utilized by those in their late 40s and early 50s as well, indicating a broader appeal and suitability.
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Benefits of Robo-Advisors
Robo-advisors offer lower fees compared to traditional financial advisors, making them more accessible to investors with smaller account balances. They use algorithms and questionnaires to create personalized portfolios based on an investor's goals, risk tolerance, and time horizon. Robo-advisors also automatically rebalance portfolios over time.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode