Robo-advisor VS. Financial Advisor: Which Should You Choose?

Managing your investments can be an arduous task, especially when the market feels extremely volatile or you’re nearing a major milestone like retirement and you’re afraid of making a misstep. Luckily, though, you have different options to help guide you on your investing journey.

Financial advisors have always been a key asset to wealth management, but robo-advisors have grown in popularity over the years for their hands-off and low-cost approach to managing your investments. Before you decide which route you’d like to take to help you manage those assets, there are a few things you should consider about each option.

It’s important to note that a financial advisor can be more helpful to your overall financial health since robo-advisors are only meant to provide investment recommendations while financial advisors provide a more holistic approach to managing your money. Advisors can provide recommendations on more than just investing, including budgeting, spending, major life events and more.

Robo-advisors are essentially software platforms that invest on your behalf. A robo-advisor’s job is to create an investment portfolio for you and then manage it over time so you don’t have to. When using a robo-advisor, you’ll usually be asked a few questions which…