Not surprised that robo-advisors are struggling to gain traction. Here in Canada, a lot of Investment Advisors (IAs) have replicated their strategy to great success. They've given up trying to pick stocks and now just focus on a broad basket of index funds/etfs, charge ~50bps, and focus on financial planning.
They might be charging a bit more than a robo advisor, but way better service, and most people (young or old) still seem to like to know who they're dealing with on the other side.
Not surprised that robo-advisors are struggling to gain traction. Here in Canada, a lot of Investment Advisors (IAs) have replicated their strategy to great success. They've given up trying to pick stocks and now just focus on a broad basket of index funds/etfs, charge ~50bps, and focus on financial planning.
They might be charging a bit more than a robo advisor, but way better service, and most people (young or old) still seem to like to know who they're dealing with on the other side.