A Millennial’s Decision: Robo-Advisor or Advisor?

Note: This article is courtesy of Iris.xyz

By Nicole Anglace

For many people my age, stocks are a foreign concept. Unless their portfolio was set up by a parent or family member, chances are, it doesn’t exist. Oddly enough, many millennials, particularly females, hold an antiquated notion that investing in stocks is a characteristic of old, white men. A recent study also found that a large portion of the millennials generation see investing as a confusing venture. Given the recent proliferation of robo-advisors, perhaps these beliefs may be challenged and come to an end.

Recently, a plethora of ETF-based financial technology platforms have emerged, allowing even low income earners to dabble in investments.

SEE MORE: How to Adapt if Robo-Advisors Make You Nervous

How does this affect Advisors like you?

If you want to take on Millennials as clients, you may want to act fast. Robo-advisors pose a significant threat to your market share, particularly within the millennial sector.