Robo Advisors

[Intensity]

Looking to put ~$100k somewhere besides a savings account. I have settled on a robo advisor but there's a bunch. Don't need the money any time soon (I am 40) so risk tolerance is 7/10.

Any recs? Or deals on fees for a 100k balance? I started a Wealthfront account with $5k already (no fees).

Thanks!

[sixwings]

Why have you settled on a robo advisor? They are just index funds with higher fees. You can buy cheaper index ETFs.

That said, if you're in canada, my friend uses wealthsimple and loves it, i have another friend that uses the questrade version and he also likes it.

[Intensity]

I would have no idea which etfs to pick and wouldn't the robo "rebalance" automatically? Do you mean just pick some out on Robinhood or whatever?

Thanks.

[NorCal]

I used the Schwab one for a while to test it out. It’s very cheap all in, and they seem to have a good model behind it. They force you into slightly higher cash balances than I prefer, but that’s part of the “no-fee” deal.

I stopped using it, as I now prefer to do it myself. But Schwab is a good place to start.

[Intensity]

Thanks for the info. I already have Schwab accounts so been looking at that. Is there any advantage Schwab is giving over DIY?

[RWD]

If all you care about is automatic rebalancing just buy target date funds.

But really it's not hard to handle this stuff yourself.
https://jlcollinsnh.com/stock-series/

[sixwings]

I would have no idea which etfs to pick and wouldn't the robo "rebalance" automatically? Do you mean just pick some out on Robinhood or whatever?

Thanks.

There are ETFs that will do it for you. In Canada VGRO/VEQT will rebalance automatically for the global market.