Comparing Robo-Advisors: Digit, Acorns, Betterment, Wealthfront
Written by the SCA team and published in Advisor Perspective.
Those who do not have the workplace infrastructure to help save for retirement can benefit from digital advice.
With so many robo-advisor choices, individuals are struggling on whether and when to use one and which one to use. Robo-advisors are great for the “do nothing” (passive) approach to investing. The “do nothing” approach says that you pick your investment strategy once, which the robo-advisor can do for you based on your answers to a few questions, and then leave it alone. You do not actively trade, rebalance, or shift your strategy. You could look at it maybe twice each year to see if it still makes sense with your goals.