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Robo Advisors are Providing Investments Management Solutions, Not Financial Planning – Here’s How

In the modern day world, we continue to automate life’s most important and critical tasks. The idea of automating finances and trading with robo advisors is one of the biggest developments of the digital world.

Robo Advisors have been in the mainstream over the past couple of years; the total assets under their management exceeded $950 billion – which clearly indicates investor’s confidence in computerized algorithm based techniques. The new form of investing is an appealing investment solution, mainly for those who don’t have an in-depth understanding of financial markets.

Although robo advisors offer several benefits and better returns, it’s essential to look at all the pros and cons of using robo-advisors. This is because some investors don’t actually know the range of services these robots are offering. Hence, they commit critical mistakes that could result in financial loss.

For instance, the investors don’t know that robo-advisors are not providing financial planning service; they are only offering trading and investment services. Financial planning is a critical component of long-term financial success.

Investments Management Solutions, Not Financial Planning

There is a huge difference between financial planning and Investment management. Financial planning includes the considerable role of an actual human advisor who shows the right path for long-term financial success. Financial planning is a continuous process that is composed of accountability and personalized attention.

While it’s also true that robo advisors are also offering access to human advisors, but that advisory services would only provide you with a few options and solutions. In addition, these options and solutions are always limited to their platform only.

Financial Planners, on the other hand, pushes clients to regularly increase their saving and how to use these saving to expand their wealth. Buying low or selling high strategy is one of the best investment strategies that the majority of investors use to maximize returns.

It’s also true that you can automate buying low or selling high strategy by showing high-risk tolerance to robo advisors, but you cannot take the full advantage of these situations without the help of a real human financial planner.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.