Robo-advisors are a fast-growing trend, with some experts predicting they’ll manage 10% of all global assets under management by 2020. The investment platforms allow users to manage their portfolios through computerized algorithms rather than consulting a personal advisor and are popular with younger, tech-savvy millennials. But, are robo-advisors overrated, or are they really the next best thing?
On This Podcast Episode:
I had a chance to chat with Steve Williams, Senior Vice President and Head of Financial Planning in the U.S. with BMO Private Bank, about his thoughts on robo-advisors. I wanted to find out some of the pros and cons for robo-advisors and what new millennial investors should be thinking about.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.
Shannah Compton Game is a podcast host and CERTIFIED FINANCIAL PLANNER of the top-rated Millennial Money podcast. Millennial Money has over 6-million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.