As an equity analyst, I see it all the time. Industries grow and change. New technologies come along and make others obsolete. Innovation drives improvement and free markets drive the best product to the consumer. The Financial Services industry is certainly ripe for innovation, and luckily, we are finally starting to see it come to fruition. Mobile banking apps, Apple Pay, Mint, and now roboadvisors.
One can argue the pros and cons of automated investment management but one thing cannot be disputed: there was a clear need to be filled in the market and technological advancements allowed innovation to be fostered. To be clear - I am not not here to be a cheerleader for this space; there are many instances where these products aren't applicable or the best available option. RoboRiches is here to curate the AIM space - it's new, exciting, and peaks our interest. We believe it will one day become a significant mechanism of investment. As such, it deserves the proper attention required to foster further development and advancements. Consumers deserve a third party to help review and recommend the services.
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There are many roboadvisors to choose from; each with distinct characteristics and a wide variety of services offered. We break down the similarities and differences between these firms here at The List.