You might have been told, particularly now we’re in the age of persistently low interest rates, that when it comes to saving money, you’re better off investing in stocks and shares, especially if you’re saving for the long term. However, for those of us who don’t work in the finance industry and are only used to saving cash in banks, just thinking about investments can feel like diving into a minefield.
Fortunately advances in technology have opened up opportunities to the less well initiated, opportunities which would never have been possible even just a few years ago. There are a growing number of “robo-advisors” whose aim is to strip away all the complexities (including complex fee structures) of investing in the stock market. What are robo-advisors, how would they help us invest, and which are the best ones to look out for? These are questions that we’ll answer in the next few posts and hope in the process to better equip you to consider whether robo-advisors might be worth a shot.