For those us who are lucky enough to have some additional income to invest, one way to avoid the hefty management charges that are associated with investing is to use an online robot investment advisor, that is an automated investment service, as opposed to a human investor. Why? Because, they tend to have lower management fees than funds managed by humans yet they can offer the same functions as human fund manager. These robot advising automated investment services can actually build you a portfolio, working out which funds/shares are best suited to your requirements. You simply answer a few questions and the online robot investment advisor will decide whether risky foreign investments are your thing or whether you need more conservative, safe havens for your money.
Online robot financial advisors are going to be the future of investment, particularly for the small guy investor and here are the top 10 automated investment services.
1.betterment.com/This automated investment service promises to be able to boost your portfolio’s return by 15% over 30 year’s versus the amateur self investment route. Currently, Betterment is for US customers only. They accept business and personal customers.
2.Money on Toast. This is an automated investment service that is based on an intelligent algorithmn that has incorporated the expertise of many experts within their own company. They allow their tech to perform many of the functions of a human advisor. You’ll need to run through a set of auto-generated questions designed to allow the system to assess your financial and personal circumstances. You can invest in unit trust OEICS and tracker funds. Available in the UK.
3.Wealthfront. This UK based automated investment service combines world-class financial expertise with top technology talent from Silicon Valley to build an intelligent and low cost investment option for business and consumers in the UK.
4.Wealth Wizards. This is an online pension’s advice service. This automated investment service uses an algorithm based on academic advice and world-class financial expertise to assess an investor’s profile in order to develop tailored, individualized solutions. They differentiate themselves by using a scoring system rather than a decision tree (the industry norm) to assess your financial circumstances which they believe enables them to provide more tailored advice.
5.Fiver a Day. They call themselves the future of financial advice. This is an online automated investment service. You simply enter your preferences and the algorithm will arrange the buying, selling, trading, rebalancing and minimizing of taxes.
6.WealthHorizon. This automated investment service allows you to go online and answer a series of questions about your finances and attitudes to money and within 30 minutes the system comes back to you with a balanced portfolio of investments tailored specifically to you.