Have you heard all the buzz about Robo Advisors? What in the world is a Robo Advisor? The real short, simple answer is that they are shiney, repackaged wire-house managed accounts that have algorithms rebalancing the portfolios as opposed to human beings. Bear in mind, humans write those algorithms. The technology enables investors to participate with lower account minimums and very low costs. As with all investment solutions, they should be evaluated by their after-cost performance relative to the most similar benchmark. Awesome technology combined with a professional is a great way to work towards financial goals! I was going to bring this Robo Advisor back with me to the beaches of Pawleys Island, but he was afraid the sand would clog up his hinged joints! We’ll just have to continue to work together virtually.
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