Understanding Robo-Advisors – Pros, Cons & Dilemmas
About This Episode
- Lawrence’s background and journey into wealth management (1:38)
- What is a robo-advisor? (4:00)
- Advantages of using a robo-advisor (6:04)
- Why robo-advisors create more opportunities for Canadian investors (7:19)
- Drawbacks of investing with a robo-advisor (8:34)
- Understanding the limits of robo-advisors (10:20)
- How Lawrence helps our young investors to get started with Wealthsimple (12:13)
- Young investors’ experiences using Wealthsimple (13:12)
- Comparing Wealthsimple and Tangerine (14:55
- The value of empathy in investing (16:05)
- Feedback from young investors about using robo-advisors (17:01)
- How robo-advisors are democratizing access to investing (19:01)
- The three doors of Wealthsimple (21:18)
- Why robo-advisor platforms can end up distracting investors (22:34)
- The slippery slope of the core and explore portfolio strategy (24:11)
- Creating market value at the expense of the end-user (25:36)
- The negative effect of the gamification of investing (26:54)
- Our key takeaways for Canadian investors (28:40)
Thanks for Listening!
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