Here’s what I did: I skipped the personal investment adviser and got a robot to build my portfolio.
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.
These investment vehicles can scale dramatically with little marginal cost because the portfolio is generated by algorithms. Since they cut out the human element of investing, they can service millions of customers at once with just a few lines of code.