Use a Robo-Advisor

A robo-advisor may sound like a fancy bit of sci-fi, yet it’s anything but. After getting input on financial goals and risk tolerance from customers, the algorithm comes up with a computerized portfolio- it’s basically doing all the heavy lifting for you.

They don’t require a minimum balance to open an account, which is a great incentive for new investors to start up their portfolio diversification journey. However, this option does come with an annual management fee, but these are typically around or lower than .25% per year.

By using customer data, the input we’ve mentioned earlier, a robo-advisor can come up with the best strategy for you within seconds!