6 signs you’re dealing with a robo-adviser

6 signs you’re dealing with a robo-adviser

For most people, receiving financial advice when investing money is crucial. Robo-advice has been the buzz word this year within the finance industry; the new way to deliver investment advice. Quicker, less expensive, more inclusive. The positives of online advice are clear.

Perhaps unsurprisingly, comparisons between robo-advice and face-to-face advice have been a hot topic (and continue to be). Both methods of providing advice have their merits and place within the finance industry – that’s not question – it’s finding the service that’s right for you that’s important.

If you choose a robo-adviser, here are 6 things you’ll be able to say.

Your investment was quick to set up – robo-advice is built on the concept of making investing as easy as possible. Financial advice should be provided in the least time possible, not the most. Of course, quality should never be sacrificed, but efficiency is key.

You did it all from the comfort of your living room – Investing needs to fit into people’s lives as easily as possible. In the digitally focussed environment we live in, a smart phone or laptop are central to most things. When internet access is the only requirement the issue of proximity is removed.

You were told the cost of investing upfront–While you can argue that cost should not be the defining reason behind choosing an adviser, it will always be a factor when investing. A robo-adviser aims to provide a straight forward service with a straight forward cost. Traditional advisers often provide a more bespoke service, or one aimed at a more complex situation, and so a cost might be more circumstantial and not so easily displayed.

You didn’t need £50,000 to be able to invest – high minimum investments amounts are a thing of the past with robo-advice. A business model based around an online service means less advisers ‘on the road’ and lower minimum investment amounts for clients. This means millions more being given access to a service they ordinarily would be excluded from.

Their website looked modern and you have an online account – a robo-adviser can’t function without a great website. It’s an integral part of the service. At Wealth Horizon we’re proud to have been awarded the best adviser website for 2015. There’s also no need to wait for your 6-monthly report to find out how your investments have performed; an online account with an up to date valuation is always available.

There was an adviser to speak to when required – most robo-advisers appreciate that people want reassurance and a degree of human interaction when making the decision to invest money. With this in mind, behind a smart looking website is likely to be an adviser ready to speak to on the phone. And webchat too. A comprehensive service for most clients will rarely be a purely online one. It’s a case of providing as much or as little contact as is required. Every investor is different.

While all of the above traits are met by a robo-adviser, it’s not to say they are exclusive to such a service. Investors need to find a service level they feel comfortable with, that meets their needs and provides them with value. Whether this is online, by phone or in person is for them to decide. But it’s good to have choice.


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Any news and/or views expressed within this article are intended as general information only and should not be viewed as a form of personal recommendation. This article is not directed to, or intended for distribution or use in, any jurisdiction where such distribution would be prohibited. To the extent permitted by law, Wealth Horizon accepts no duty of care or liability for loss occasioned to any person acting or refraining from acting as a result of any material contained within this article. Where past performance is shown, this should not be taken as a guide to future returns. Investment in the stock market is not a suitable place for short term money. The value of investments and associated income may go down as well as up and you may not get back the full amount invested.

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Investment risk: Investment in the stock market is not a suitable place for short term money and you may not get back what you put in. All investment carries risk and it is important you understand this, if you are in any doubt about whether an investment is suitable for you, please contact us. Investment in the stock market and any income derived from it, may go down as well as up.

Wealth Horizon certainly lives up to its promise of making investment simple to understand

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