Dawn of the roboadvisers

Automated advice best suits the youngest and oldest investors: But we find it's often not that cheap and ETFs could cause problems.

Summary: Roboadvice businesses, or automated investing services, can help bring discipline to the investing process, automatically rebalancing portfolios in volatile markets despite any emotions investors may feel. The services can also offer advice to lower-balance clients who are not well served by traditional advisers. But fees vary widely and even though the platforms appear similar, some offer personal advice and some offer general advice.

Key take out: Roboadvice may be most useful for clients with simple financial affairs, such as the youngest and oldest investors, as any questions about estate planning or tax must still be answered by a human adviser.

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