Robo-Advisers: Not Just For Millennials Anymore?

Ever since robo-advisers hit the scene in 2008, these low-cost online automated investing firms (roughly $67 billion under management) have mostly targeted Millennials. The thinking at the likes of Betterment, Wealthfront and FutureAdvisor: people in their 20s and 30s are tech-savvy, want to keep investing costs down and don't have enough money to interest human financial advisers. "The baby boom generation has more money, but they've got complicated situations like retirement," Wealthfront's founder, Adam Nash, told CNBC. But now, boomers are increasingly saying: We want in. And one new robo-adviser (True Link Financial, partnering with Schwab) is specifically targeting retirees and people within five years of retirement.