BeniGro

Address: 131 Randall Road, Bolton

Massachusetts, USA, 01740

Email: [email protected]

Phone: 833-236-4476

Website: https://benigro.com/

Ever since robo-advisors came into being, the industry has been transformed. There has been a constant struggle between choosing robo-advisors or personal financial advisors. A Financial Planner in USA has almost become a necessity for investment management and risk advice.

No doubt, both robo-advisors and financial advisors are great, but when it comes to choosing, you can choose only one. There's a huge difference between the two, which is why often people get confused. Although they serve the same function, they have their own ways which can be helpful in the long run.

Robo-advisors and Financial Advisors: Difference

Robo-advisors are more of a digital platform that analyses the client's investment portfolio to determine the best investment platform for him. These platforms may or may not require human interaction. All you need to do is insert the details about how much risk you are willing to take and how much you can invest. The Best Robo-Advisors 2020 will do the calculation for you and serve you with the best low-cost option. Robo-advisors are great for beginning to plan your investment. They are very precise and do not offer an extensive comprehensive planning.

On the other hand, personal financial advisors can offer you advice on how much you should be investing. They offer you a complete advice and guideline on how you should invest, right from estate planning to investing. They can play an important role in risk assessment and management. The personal financial advisors are available for hire on a temporary or permanent basis. You can hire them either locally or online for your future investment management plan.

Costs

Human interaction for financial advising will require you to invest more. The Best Online Investment Companies have high charges, be it for robo-advisors or personal financial advisors.

The robo-advisors usually charge 0.25-0.50% per year on the amount. But, if you are new and opening an account, you wouldn't need to pay anything more than $0. Isn't that great?

But, as far as financial advisors are concerned, they will charge you depending on the percentage of assets. Usually, they charge 1% of the assets per year but the percentage would increase too.

The rates are different for online financial planning services. However, online financial planning is pretty cheap as compared to traditional financial advising services. The online financial planning services usually charge monthly or annually depending on the gravity of financial planning.