A study of 3,000 U.S. adults conducted by Vise, a technology-powered investment management platform built for advisers, that was given exclusively to USA TODAY found that the biggest barrier to working with an adviser is concern about how much it would cost (43%).
Roboadvisers, digital apps that use algorithms to build investment portfolios, are an increasingly popular vehicle for investing, especially for young adults who want a tool that is uncomplicated and mobile-friendly.
You can download an app and fill out a survey about yourself with questions like your age, income and risk tolerance. Based on those responses, roboadvisers generate a portfolio of stocks and bonds for you to maximize your long term returns.