Broker Check

1735-A Union Street
San Francisco, CA 94123

LinkedIn

Scott B. Jacobs

(415) 400-5038

 

Robo-Advisor vs. The Human Touch

The Difference Between a Robo-Advisor and a Human Advisor is Night and Day

The financial advising industry has been buzzing about the emergence of robo-advisors for the past few years. Blogs, news commentators, and social media have lit up with mentions, think pieces, and segments about these online tools that attempt to create and manage a client's portfolio in a fast and inexpensive way.

The low fee structure may be attractive to you, especially if you are new to wealth management and financial planning, and you may have been enticed by it, but we at BMWA would remind you of the old adage "you get what you pay for". No website or algorithm can ever replace or replicate the true partnership that comes with having a face-to-face, live financial advisor at your disposal.

Robo-Advisors Won't Teach You the Basics, BMWA Will

Coaching was necessary for you on the field, when learning a sport for the first time. You needed a teacher to explain the nuances of dotted eighth versus sixteenth notes, when you were learning to play an instrument, didn't you? Well, the same is true for Financial Literacy and BMWA is here to mentor and guide you through all the unfamiliar jargon and provide context, so that you can move forward with a plan for you and your loved ones. 

BMWA Customizes the Planning Experience to You, Robo-Advisors are, well, Robots

BMWA has a proven process of how to approach beginning the process of planning, but the specific action taken is malleable to your needs and goals. Robo-advisors have templates and tiers that you must choose between. Shoe-horning your financial plan into a service model on a website is not the BMWA way, but it is likely what you will be asked to do when shopping for a robo-advisor.

BMWA Respects Your Time, Robo-Advisors Expect You to Learn How to Interact with Them on Their Terms

BMWA will sit down with you, based on your schedule, and set benchmarks for progress. We handle all manner of financial industry minutiae that you do not want and should not have to worry about. With a robo-advisor the onus is on you to check-in with their website to find out and comply with filing deadlines and keep track of what goes where when. Navigating such details, on top of living your life and working toward professional goals, could turn into another full-time job. Not to mention that, if you are dissatisfied and decide to switch robo-advisors, you have to learn an entirely new system from scratch. BMWA, with your input and direction, takes the reins on the in-and-outs of investing so that you can spend time doing what you love, not logging on to yet another website or taking on becoming an expert in finance.

Robo-Advisors Can't Offer Guidance Based on Lived Experience, BMWA Can

Do you have questions about sending your child to college? Planning for your parents needs in old age? How to launch or close a business (if you are retiring)? These are critical questions that BMWA can provide guidance around and point to a network of real people who can share their knowledge with you as well—not a link, not a PDF, but a living, breathing, wealth of knowledge.

Meet Our Team and feel free to Reach Out anytime!