There are five important considerations when you are choosing a financial advisor for your investment portfolios and your financial future. Promises, strategy, payment, time and experience are critical areas for discussion with any potential financial advisor. If the advisor isn’t forthcoming with information that you need, find another advisor.
A robo-advisor may be good for many things, but they will not and cannot help you when investments go wrong or when markets turn bad. When markets turn down, your robo-advisor will inevitably fail you. You need someone who will take responsibility for the risks and results in your portfolio. If that person isn’t you, find the right person who can make difficult decisions and take appropriate actions for you. Robo-advisors just can’t do either.