Page 7 - Robo Advisors and Growing Your Wealth
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ROBO ADVISOR MYTH #3
Robo advisors are only for millennials or investors with small account sizes.
Millennials might be known as early technology adopters, but the average age of investors using a robo advisor like Nest Wealth is in their 40s. That’s right, 40s! This isn’t surprising as it’s established investors with large accounts that have the most to gain by switching to lower fee models.
The average mutual fund fee in Canada is 2.5%, one
of the highest in the developed world. Most robo advisors charge around 80% less. You can imagine the staggering impact of this savings compounded over time. Better yet, see for yourself the actual difference in dollars this will mean over the life of your investments.
ROBO ADVISORS AND GROWING YOUR WEALTH
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