Investor's Business Daily
Meet Your New Robo Advisor, Disguised As Your Old Money Manager
By Aparna Narayanan
It wasn’t long ago that complex advances in investing, such as automated asset allocation, portfolio management and tax-loss harvesting, were considered high-minded concepts reserved only for the elite.
Enter the robo-advisor, an automated version of the financial consultant, born in the wake of the last financial crisis. It quickly became the new norm, delivering these same services to ordinary investors for very low costs and putting them on the path to modern investing in minutes instead of days. It was another in an endless series of examples where technology leveled the playing field.