first_imgPros & Cons of Human Financial Planners ProsPros & Cons of Human Financial Planners Pros – Hiring financial planners allows investors to become involved in the investment process. All suggestions and queries are met with accordingly. In case of a Robot Advisors, all investments are made by a set of programs. – The rate of Return is substantially higher with financial planners as they are trained in strategic risk-taking that allows them to make moves that automated programs wont. – Financial planners are ideal for anyone with a large portfolio spread across different sectors as they look at investments beyond the realms of typical profit-loss statements help take long term calls that computer programs are unable to make.Cons – The cost of hiring a financial planner is much higher than using Robot Financial Planning tools. – A huge chunk of the investors cant reach the minimum threshold in terms of assets required to hire a financial planner. Using robo-advisors is less intimidating and more convenient. – Robo-advisors keep clients updated minute by minute on the investment scenario while financial planners may send daily, weekly or monthly reports. This allows investors to track all their investments in real-time.The VerdictThough “robo-advisors” have emerged as a plausible option for making investment in the market they wont undercut the role of financial advisors in the role as investment facilitators. The need of the hour is a hybrid approach wherein financial advisors make use of these tool and software when it comes to making investment decisions. The fact that financial advisors understand the investor psychology and the demands of the market better, it puts them into an advantageous situation comparatively. They use their inherent knowledge in behavioural finance and neuro-economics to make strategic moves in the market. MORE PRN KSCadvertisementlast_img

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