Digital investing platforms, or robo-advisors, offer financial advice and limited human interaction. This combination of services is becoming increasingly appealing, thanks to millennials’ and Generation Z’s ability and preference to handle their finances online, the pandemic-driven shift to virtual interactions with advisors, and increasing interest in investing in novel assets like cryptocurrency.
We took a closer look at what the top robo-advisors can (and can’t) do, and the type of investors who could benefit from using one. And if robo-advisors sound like a good fit, consider our list of top providers to better understand the options that could work for you.
You can also dive deeper into the details in the full research report from Amy Arnott, portfolio strategist, and Alec Lucas, manager research strategist for Morningstar Research Services.