If you follow financial media, you've certainly heard of Robo (short for "robot") Advisors during the past two years, a few of the well know organizations include: Betterment, WealthFront and Personal Capital. These companies provide technology-based automated investment services for a small fee or in some cases, free. Many within the media believe this significantly changes the delivery of financial advice and will create competition for personal financial advisors.
At M.J. Smith and Associates, we believe the invention of Robo Advisors is a net positive. The greatest benefit is to smaller investors, who now have access to quality investment advice at a lower fee. These new companies also force existing financial advisors to both evaluate and hone their value propositions. Many advisors have shifted from investment performance focused propositions to holistic wealth management (like us) which adds value in many different faucets.