Forbes Finance Council: Is Working With a Robo-Advisor Right For You?
Lauren Laferla, PR & Content Marketing Manager
December 31, 2018
In a recent article for Forbes, Covisum Founder and President Joe Elsasser, CFP®, outlined the benefits and shortcomings of robo-advisors.
For many people, it is worth at least considering a robo-advisor. For a relatively low price, robo-advisors are reasonably good at managing asset allocation for a given risk level.
However, there are a few situations where relying on a person as your financial advisor is a preferable option. For instance, robo-advisors can't pick up on the changes in your life that impact how you're going to use your money, like a long-term medical need or an unexpected death of a loved one.
"You know your financial situation best. If you have a firm grasp of the details surrounding your financial goals and know the exact information you need to input, a robo-advisor might be a good fit. If you have questions surrounding your goals or a recent change in your life, it might be best to consult with a real, live person who specializes in giving financial advice to people like you and can help you navigate your next moves."
You can read the article in its entirety in Forbes.
Lauren is a content marketing enthusiast with a love for storytelling - on camera, in writing, and through others. She has a robust communications background that includes: public relations, content creation, internal communications, digital marketing, and copy editing. Driven and motivated, Lauren holds a bachelor's degree in English and is an avid reader.