Page 6 - Robo Advisors and Growing Your Wealth

ROBO ADVISOR MYTH #2
Your money isn’t safe.
Again, not true. Security is incredibly important to robo advisors. We’re subject to the same strict regulations as any other company in the nancial services industry. And unlike some traditional investment advisors, our portfolio managers have a legal responsibility to put your best interests rst.
As for account safety, we use bank-level security
measures to ensure data is collected and processed securely. Your money is held separately in an account in your name at a bank-owned custodian, usually a large long-standing bank.
Like other investment accounts—assuming your robo advisor uses a custodian that’s a member of IIROC—your account
is eligible for protection up to $1,000,000 by the Canadian Investor Protection Fund (CIPF) in the event the custodian becomes insolvent.
ROBO ADVISORS AND GROWING YOUR WEALTH
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