November 16, 2017 • 52 mins
Robo advisors are simply online investment platforms. These innovative tech companies have made it extremely easy for the average person to invest in the stock market with just a few dollars.
Robo advisors are the new kids on the block—you might know them by the names Betterment, Wealthfront, Wealthsimple, Ellevest or Vanguard. They have no account minimums and low fees, generally something like .5% or 1% (as opposed to 2-5% for an ace fund manager). With low fees, robo advisors are basically a one-size fits most investment portfolio behind a very sleek website. The investment strategy is to maintain a diverse portfolio made up of mutual funds, ETFs and bonds. I've invested my own money in a few different robo advisors so I can review them for you! Plus, I talk to Nick Holeman from Betterment about how the industry is changing.
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