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.

More from Investor Toolkit:
Advisors turn to life coaches and counselors
Retirees leave $100B in Social Security benefits on table
How much those advisor fees are costing you

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.



Source link

Products You May Like

Articles You May Like

Venmo had a breakout quarter and is at a ‘tipping point’ to finally make money for PayPal, CEO says
Asian LNG prices rise on surging oil prices and China tariffs 
1 in 4 Venmo users’ actions on app can be monetized
RV demand healthy, but rates and tariffs could add pressure
A 15 percent correction is the gut check the market needs: Jim Paulsen

Leave a Reply

Your email address will not be published. Required fields are marked *