The stock market is closed until the day after Christmas so you can relax on that front but have you procrastinated on your final holiday shopping duties? Over a third of Americans are still out there today finishing up some last minute shopping!
If you’re looking for something unique but also truly impactful…give the gift of investing!
My Portfolio Guide, LLC is also getting into the spirit of giving by doing something no other advisor would consider…as a matter of fact most of our peers would likely laugh at this:
We are offering FREE accounts to any minor!
My Portfolio Guide already provides free 529 College Savings Plans to children and grandchildren of existing clients but during this holiday season we will open and professionally manage a custodial or Roth IRA for any child. Continue reading →
The financial services industry is notorious for creating new terms and services in an effort to meet the ever-changing needs of investors. Often these ‘solutions’ are quickly adopted and become broadly used while others simply fizzle away only to be quickly forgotten. Unless you’re inside the industry you won’t hear the term “Robo-Advisor” but with advertising and slick marketing you will soon be solicited by one.
As with any new service or product there are many different models that companies are using as they rush to be part of a new fad. The basic definition of a Robo-Advisor is: a class of financial adviser that provides portfolio management online with minimal human intervention. You might not be aware of these offerings but with several large firms introducing new strategies this year it is a safe bet that you will hear about Robo-Advisor’s in the coming months.
The vast majority of these firms have only been in existence the last five years but the growth they have experienced is dynamic and catching the attention of many large national firms. Currently there are over 15 established Robo-Advisor firms – the average account size is just over $20,000, each firm has over 20,000 clients and $200 million in assets. According to the research group Corporate Insight, they posted over 36% in asset growth in just four months last year (April to July). The growth of these firms has been impressive but should it really be that surprising? Continue reading →