What is a robo-advisor?

I get lots of questions about investing. It’s something I don’t write about a lot, partly because there are so many resources out there, and partly because it doesn’t interest me as much as some of the other areas of finance.

But I had a blast recording this episode of Because Money and talking about robo-advisors.

Robo-advisors are an awesome new tool that are great for people who want to invest, but have no idea how or where to start.

And John and Sandi (my podcast compatriates) have invented… YES INVENTED… a tool to help people choose which robo-advisor is the right fit for you.

This episode is great for newbie investors AND people that know a thing or two about stocks and bonds. Newbie’s might want to check out John’s ‘Starter guide to investing’ at the top of the episode… it’s everything the rest of the internet is trying to tell you… but explained way better.

So, give this episode a listen, play around with THE CALCULATOR, and if you have any questions feel free to send them my way (I will forward the tough ones on to Sandi and John).

Starter guide to investing (in under 5 minutes): 2:18

Is a robo-advisor a robot? 7:27

Why are robo-advisor fees so low? 9:06

Is my money safe with a robo-advisor? 10:33

What are the differences between the many robo-advisors in Canada? 13:10

Why build a robo-advisor calculator? 15:38

The ‘best’ robo-advisor vs the best robo-advisor FOR YOU: 18:43

How we compared all the Robo fees: 19:58

Do robo-advisors offer financial planning? 27:24

Should you consider investing with a robo advisor? 31:05

You can find the calculator HERE.

You can find John’s book on investing (it’s great) HERE.

And you can find the incomparible Sandi Martin right over…. HERE.

For another article on robo-advisors… check out THIS PIECE by Young and Thrifty (you might recognize the graphics).

Want to start getting control of your money? How can I help?

Chris Enns

Chris Enns

Financial Planner/Opera Singer

Money never came naturally to me. In fact… I was a bit of a disaster. I remember (very clearly) what it feels like to be ‘financially out of control’.

And honestly, I still get stressed about money… that doesn’t stop… the difference is that now I have the tools to deal with that stress.

And those tools are what’s made it possible for me to build a life full of the things I want: art, creativity, travel, family and more.

If you want to start getting control of your money I’d love to help. You can start with THIS QUIZ, visiting my GETTING STARTED PAGE or by checking out my SERVICES page.