Things You Won’t Hear From A Robo Advisor

What Robo Advisors Can't Do

photo: veer

What a robo advisor won’t say:

“A sabbatical sounds great. Let’s talk about how you are going to meet your obligations and stay on track with your long-term goals during that time.”

“With retirement right around the corner, I can understand why you might want to cash out of equities and go all in to a bond portfolio. What if those bonds don’t generate enough returns to beat inflation?”

“Let’s step back a minute. Do you think you are really going to get 10% return every year from now to the time you retire?”

“I know, it’s worrisome to see your stock down for so long. Before we bail, let’s get some historical perspective.”

“You could continue to spend as you currently are, but it will dramatically change your retirement options. Why don’t we look together for ways to cut back?”

“I’ll introduce you to Sally Jones at the client appreciation event. I know you two will hit it off. You have a lot in common.”

“I know the head of lending over at Big Bank. Maybe he can extend you more credit while you prepare to launch your new product.”

“I’m happy to sponsor you in the marathon and help you raise money for kids with cancer.”

“There’s a great app that helps families manage allowances. Would you like me to send you a link to it?”

“When we created your plan, you were going to invest $5,000 a year per child in the 529 plan. I notice that hasn’t been happening. Do you want to get together to brainstorm how we can reenergize your college savings plan?”

“Your bonus is a big part of your family income, but it isn’t covered by most group
disability policies. I thought I’d look into supplemental coverage for you.”

“What is it that you want your money to help you achieve in life?”

“You should talk to Attorney Simmons. He’s worked with many of my clients, and I think he’ll be incredibly helpful to you.”

“You said you want to pay for your daughter’s wedding, cover the lion’s share of her college expenses, and retire when you are 55. Given your current income and savings,
do you think those are realistic goals?”

“Now that you and Richard are no longer together, we have to revisit your financial plan to make sure that you remain on track to achieve your goals.”

“Just checking in to see how you are doing.”

For the latest industry trends and leading practices, check out eMoney Advisor’s range of helpful resources for professional financial advisors here.

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