Episode #6: 7 Reasons You Need More Than A Robo-Advisor

With the increasing popularity of the robo-advisor, you might question whether you need to work with a real advisor. We share seven reasons why you should.

The View From The Pinnacle

With the increasing popularity of the robo-advisor, you might question whether you need to work with a real advisor. We share seven reasons why you should.

Thing’s You’ll Learn Along Today’s Journey

3:20 – The robo-advisor is easy to work with, but they’re incredibly impersonal. They aren’t able to give you perspective or build a relationship with you.

4:30 – Advisors keep you involved in investment decisions. Robo-advising on the other hand is more hands off. You tweak some settings and your computer gets to work. While this can be effective for young investors, you need a more thorough approach to retirement.

6:05 – Your robo-advisor won’t help you weather the storm of market volatility.

8:12 – Your advisor will update your plan as your circumstances change. A robo-advisor doesn’t change strategies to keep up with your needs. Sure, target date funds are useful, but you need someone who’s much more involved in your finances.

10:34 – Robo-advisors make terrible customer service representatives, and don’t bother trying to get in touch with a human at your big-box company. You’ll be waiting on the line for days. While that’s dramatic, your advisor should be a quick phone call away. You need someone who can quickly get back to you as issues arise.

12:58 – Tax and insurance strategies are complicated. You need someone who knows the intricacies of these areas of planning.

15:13 – Real advisors provide you with a holistic, comprehensive approach to retirement planning. A robo-advisor can set you up with various products, but your advisor can work them all together in conjunction with other areas of your financial life to help you meet your goals.

Looking Back From The Mountaintop

Once you can marry that math problem (of financial strategy) with what your values are, and your goals and beliefs are, that's when you start to gain clarity, and that's when you start to have more freedom to do the things you want to do. - Sean Lee

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MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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(801) 639-0095

slee@erg-slc.com

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