What to look for to make sure the robo-advisor you select matches your needs.
You may want to take another look at your robo-advisor to make sure you’re investing with the right platform. As existing robo-advisors switch up or add new offerings and new entrants come into the market, the choices for where to invest and why are changing.
That comes as Betterment recently announced the addition of a new tool to let investors control how asset classes are weighted in their portfolios.
Wealthfront, a competing platform, recently added its own fund to its investment lineup that aims to mimic a hedge fund’s strategy at a lower cost.
Betterment’s tool, which is also accessible to financial advisors, and Wealthfront’s fund, a move toward active investing, are departures from the strategies those companies started out with, said Grant Easterbrook, a former robo-advice analyst and currently co-founder of Dream Forward.
Those changes come as new entrants — including big names such as Morgan Stanley and Wells Fargo — make their way into the market.
Here’s what you need to keep in mind when deciding which robo-advice platform is right for you. Read more.