Biggest risk when choosing between human and robo-advisor

Advisors


The choice you make for how you want to receive professional financial advice can make or break your portfolio.

Investors today have four main choices for how they want to receive financial advice, Ron Carson, founder and CEO of the Carson Group, said in an interview with CNBC.com.

You can either go the traditional route and work with a human financial advisor or opt to work exclusively with a robo-advisor. Or you can select a bionic offering, which is a combination of both, or choose to work with a financial advisor on a retainer-fee basis.

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The decision you make should be based on your personal goals, needs and objectives, Carson said, and how you are most comfortable interacting with and receiving advice.

The direction you choose will have a big impact on your financial future.

“Your behavior is going to drive performance,” Carson said.



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