How do you Hire a Robo-Advisor?

[Eric]

 

[Sam]

Hi Eric,

Multiple brokerage companies exist on the internet. All the companies offer different benefits, which might fit your demands or not. If you are looking to hire a Robo-Advisor, you have to access the internet and have computer literacy. A search for Robo-Advisor generates multiple searches. The searches show different companies, which outline their services on the web-interface. There are several factors that you have to consider when looking to a hire a Robo-Advisor.
First, you must assess your financial position to see if you can meet the fees that the different companies require. However, you should also note that the charges directly correlate to the services that the various companies offer. For example, a company that provides tax-loss harvesting will cost more than a simple investment advisor. Similarly, a company that provides virtual services of a human advisor also costs more than companies that only use automated services.
Second, you have to consider the services that you want the Robo-Advisor to serve. Simple Rob-advisors offer Portfolio management services and asset allocation as the essential functions of the software. Other sophisticated Robo-Advisors have additional services such as tax-loss harvesting services, tax optimization strategies, and retirement. 
Lastly, you have to assess whether you would want a human advisor to help you in decision-making. Some companies offer human assistance via chat or online virtual platforms. Such companies provide Robo-Advisors at a higher cost compared to primary advisors. After considering the three factors and individuals can make a sound decision on which Robo-Advisor to select. The chosen service provider must meet the financial requirement and service requirements that you want. You will also have to decide between hiring a virtual financial advisor with similar services to the chosen Robo-Advisor. You will only have to select a Robo-Advisor that passes the evaluation process above.