How to Pick a Robo-Advisory Platform That Fits Your Needs, Featuring our CEO Rick Frisbie
With over 200 robo-advisory platforms available today in the United States, it is hard to know which one is best for you, your practice and your needs. Each robo offers a variety of different features tailored to meet your needs. But how do you know which one will be the right fit for you?
Our CEO, Rick Frisbie was featured in The Street’s publication, How to Pick a Robo-Advisory Platform That Fits Your Needs. In this piece, Rick describes the 4 key features that Advisors should look for when considering their choices.
- Low Fees: “Not all fees are transparent, so it’s important to do some detective work and talk to your financial advisor to make sure you know what you’re paying for.”
- Advanced Trading Algorithms: “Is your robo thoughtfully rebalancing assets in the portfolio’s framework for you? If not, it’s not a true robo”
- Asset-based Fees are Charged Only When Your Robo is On: “A flat recordkeeping fee may be charged for all accounts on the platform, but a robo-platform shouldn’t take a chunk of assets out of accounts it is not actively trading”
- Open Architecture and Flexibility: “Don’t constrain your options by choosing a robo that only allows periodic trades”