It was only a matter of time before someone did it, the surprise is it hadn't been done already. How long will it be before the Asian version goes live?
WealthDunk is a London based online investment comparison site which compares the pros and cons of digital managers.
With the exponential growth of Robo-advisors promising easy investing accessible to everyone, with low account minimums and far lower fees than traditional financial advisors, how do you find the right match?
WealthDunk has made a start and breaks the comparison process down into 5 simple steps.
Fees
The WealthDunk comparison tool provides an illustrative first year fee based on the chosen initial investment, making it easy to compare fees from various providers on a like-for-like basis.
Initial and Ongoing Investments
While all robo-advisors have a minimum initial investment amount, they’re significantly below those required by traditional financial advisors. Some robo-advisors also have requirements on minimum ongoing contributions.
Investment Approach
One of the most pressing questions when comparing robo-advisors — what are they going to actually do with your money.
Common Features
Robo-advisors claim they want to make your life easier, minimise your expenses and make you feel secure. That’s why there are a few extra features that are common across many advisors. The comparison tool filters through them.
Special Features
In addition to the common features listed above, some robo-advisors look to differentiate themselves via special features. These include discounted fees when you invite friends, on-the-go top-ups and the ability to speak to a qualified financial advisor at any time. If you’re struggling to pick between two advisors, these features could be the deal-breaker.
So that is the template how long before we read about the Asian Robo-advisor tool?
