Robo-Advisors & Robo-Traders – Even Robots Can't Save You

Now, this seems like a logical way to invest, especially for new investors. But, the biggest attraction is that most robo-advisors have very low account minimums and also charge low fees. In comparison, most wealth managers (actual people) have a $500,000 USD account minimum and charge 1% – 2% annually of the total account value. This is simply not an option for most. I'm a huge fan of technology and finding more efficient ways to complete tasks… but I'm a bit weary of these robo-advisors, and I think you should be too.