facebookIs it ok to invest using multiple robo-advisors or better to stick to maybe just 1 (or max 2) ? I am a new investor and have currently invested into 3 robo-advisors. What are your thoughts? - Seedly

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Anonymous

11 Jul 2020

Robo-Advisors

Is it ok to invest using multiple robo-advisors or better to stick to maybe just 1 (or max 2) ? I am a new investor and have currently invested into 3 robo-advisors. What are your thoughts?

Discussion (4)

What are your thoughts?

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Tan Wei Ming

08 Jul 2020

Founder and Writer at Frugal Youth Invests

Noted that the fee structure of robo advisors is by assets under management, I would say that it is unwise to have many robo advisors and should stick to just 1 or 2 robo advisors that serve different purpose of your needs.

Next, review your robo-advisors' portfolio to see if there's any overlap in sectors, geographical location. I would recommend keeping the robo advisors that are more diversified.

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