While one option may appear more costly in the short run, it’s much more likely to deliver the desired results in the long run
. Regular training sessions, like wealth management progress reviews, encourage both parties to be present, outline goals and trade-offs, work toward them, and review progress together with accountability on both sides.
Robo-advisors occupy an important space in wealth management and have been an innovative tool to democratize investing. While they may be here to stay, they will not be able to replace the value a trusted advisor can offer clients. Alexandra Horwood is a portfolio manager and investment advisor with Alexandra Horwood and Partners at Richardson Wealth Ltd. in Toronto. She is also a member of The Globe and Mail and SHOOK Research’s ranking of
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