Why a Roboadvisor is Like Getting Financial Advice at a McDonald's Drive Through

Note: This article is courtesy of Iris.xyz

By Sara Grillo

A Roboadvisor is kind of like getting your investment advice from the McDonald’s drive through window. It’s a website that provides automated financial advice with minimal human intervention. They basically use an algorithm and some basic input from the client to form a set of investment recommendations that your assets are invested into.

Up until now, the high minimum amounts required for personal investment advice has left the middle class in the cold. Also, these services tend to price out at a rate which you have to be rich to pay. But now here comes McDonald’s. A simple website, a math equation, a low fee – sounds good, right? How do I hand over the keys to the car?