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What's the Big Deal with Robo Advisors?

Drew Harper, CFP®, CFA - Monday, August 17, 2015

 

8.17TH.jpgIf 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. 

How is M.J. Smith and Associates different from a Robo Advisor? 
 
First and foremost, financial advice is still a relationship-based business.
Computers cannot replace the human interaction of advisor and client, nor will they coach clients during volatile times in order to keep clients from making emotional decisions.
 
We also offer more than just investment advice.
Based on our expertise and service offering, we are the coordinator of your estate and tax planning, retirement plan, investments and insurance. M.J. Smith and Associates continues to educate our clients through seminars, white papers, articles and blog posts. Our tailored services and expertise gives our clients confidence and time to focus on whatís most important to them.
 
We welcome you to compare our services to one of the new Robo Advisors and we're confident our additional services provide significant value over the incremental cost.
 
 
 
 
This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Mark Smith and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete Investing involves risk and investors may incur a profit or a loss regardless of strategy selected. Diversification and asset allocation do not ensure a profit or protect against a loss. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Raymond James and its advisors do not offer tax or legal advice. You should discuss tax or legal matters with the appropriate professional.
 

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