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 (3)

What are your thoughts?

Tan Wei Ming

Tan Wei Ming

08 Jul 2020

Level 10·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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