Let’s face it, investing is hard. The industry is filled with complicated financial theory, complex algorithms, and convoluted terms. The average investor can only scratch the surface of this knowledge base. But finally, after years of stagnant innovation, a new way to invest has hit Main Street. Hello, roboadvisors. Cheap, diversified, constantly monitored, and tailored to your needs. Sounds great, right? Sure, but which advisor do you choose? Uh oh, things just got complicated.
If you're an investor and you’ve made it to the step of choosing a so-called roboadvisor, congratulations. Now the tough task of choosing which advisor to go with begins. Likewise, if you're an RIA looking to utilize automated investment management, your search is just beginning.
That's where we come in. RoboRiches has created - and will continually update, monitor, and enhance - a list of the top roboadvisors in the market. We affectionately coined it "The List." More than just "A List", we categorize, profile, review, and rank the options presented. Our mission is to provide you with not just the most knowledge, but the right knowledge to make actionable decisions.
Does it matter which advisor you go with at this point? To be fair, you've already narrowed the pool of advisors down from the thousands to just a handful. I get it, you want an easy, cheap, diversified portfolio with your long-term goals in mind. All of the companies on our "List" claim to provide that so why would you need to delve any further? The answer is that there are glaring differences between these companies once you dig a little deeper. I liken it to purchasing an engagement ring (a process I've had the pleasure of recently undertaking). You've waded through the countless styles, cuts, and bands, narrowing down your search to a handful of rings. You've met your general criteria and just need to pick that perfect one. But, simply looking with the naked eye doesn't reveal the inclusions that a microscope might. We're that microscope.
Roboriches is here to make sure you, the consumer, is well informed about your options. So, just what are the differences? Well, they range from the services offered, investment process, and investment vehicles to cost, customer service, and accoumt requirements. The subtle differences between each advisor can, and will, lead to differing results over the long-term.
Over time, we will discuss the pros and cons of each investment option on our list. If nothing else, we hope to further educate consumers, and cultivate the industry, making automated investment management easier and more widespread for the masses. Let's begin....
Check out more articles written here at RoboRiches in our archives.
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.