Summary: Securities rules require robo-advisers to act as fiduciaries in providing investment advice to clients, but a new research paper calls into question whether regulators have the necessary tools to monitor these platforms to see if they really are providing advice in clients' best interests.
 I've opened a few robo-accounts, and it's clear that it's a very standardized type of process that takes into account a few questions that you answer and then sticks you in a portfolio. That's very different than sitting down with a human adviser who goes through all your information and comes up with a recommendation.”Steve Dunlap, president, FolioDynamix. |
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