With the number of easily accessible robo-advisors on the rise, there has never been an easier time for Canadians to start saving and investing.
With as little as $100 per month, you can build diversified portfolios at a relatively low cost which is a very empowering option.
In this episode, Marcelo, Lawrence and Keith discuss how Robo-Advisors work, the opportunities and advantages created for Canadian investors, as well as the risks and dilemmas of using these investment platforms.
Key Topics:
- Lawrence’s background and journey into wealth management (1:38)
- What is a robo-advisor? (4:00)
- Advantages of using a robo-advisor (6:04)
- Why robo-advisors create more opportunities for Canadian investors (7:19)
- Drawbacks of investing with a robo-advisor (8:34)
- Understanding the limits of robo-advisors (10:20)
- How Lawrence helps our young investors to get started with Wealthsimple (12:13)
- Young investors’ experiences using Wealthsimple (13:12)
- Comparing Wealthsimple and Tangerine (14:55)
- The value of empathy in investing (16:05)
- Feedback from young investors about using robo-advisors (17:01)
- How robo-advisors are democratizing access to investing (19:01)
- The three doors of Wealthsimple (21:18)
- Why robo-advisor platforms can end up distracting investors (22:34)
- The slippery slope of the core and explore portfolio strategy (24:11)
- Creating market value at the expense of the end-user (25:36)
- The negative effect of the gamification of investing (26:54)
- Our key takeaways for Canadian investors (28:40)
Thanks for Listening!
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