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How a robo-advisor could help you save time and money

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Daily Hive Custom Content Jul 19, 2017 7:22 am 759

Many people think that investing is reserved only for the rich. Of course, that’s simply not the case. With the vast majority of Canadians having no pension plans to help them in retirement, it’s more important than ever that we realize investing is not just for the rich – it’s for everyone.

So, you want to start investing…that’s great. Ok, now what? Where do you begin?

Let’s face it, walking into a bank branch feels passé. Plus, who has the time to sit down with a bank teller and make small talk? You’re not interested in high pressure sales tactics, or being upsold on the latest credit card rewards program. What you need is what can be an efficient and effective investment management platform – one that you can access from anywhere and at any time.

That’s where robo-advisors come in. A robo-advisor is an online investment service that can help manage your investments while you focus on living your busy life. While most advisors still conduct their business the old-fashioned way, robo-advisors use technology to provide a more modern client experience. Robo-advisors also use smart technology to lower investment costs for their clients. This focus on increased use of technology is why this group of advisors have earned the nickname ‘robo-advisor.’

Robo-advisors can help you in two key areas: save time and save money. Since they are online you no longer need to complete mountains of paperwork, or make face-to-face appointments every time you want to discuss your investments. With robos, you can complete the entire process on a computer or a phone, and you can log into your investment dashboard from anywhere, at any time. When it comes to saving money, remember that the investment fees charged by robo-advisors are typically minuscule in comparison to the fees charged by most banks and investment firms. It can truly be a win-win situation for investors.

Low fees can mean more money stays in your account, growing and compounding your wealth at a much faster rate. In fact, many investors can increase their retirement savings by tens or even hundreds of thousands of dollars, or retire years earlier than expected – all due to lower fees.

To get a better idea of how it works, we’ve checked out one of Canada’s premier robo firms: ModernAdvisor. Here’s our list of the top five benefits of investing with them.

Ultra-low fees

ModernAdvisor has no set-up fees, no commissions, no annual administration fees, no hidden fees, and no conflicts of interest. Their management fees are amongst the lowest in Canada.

Why it matters: There’s only one source of money – yours. Lower fees means more money stays in your account. Whatever your investment goal is, you’ll get there faster.

Help when you need it

Investing online shouldn’t mean investing alone. ModernAdvisor’s team of advisors are available to help you get started and answer your questions at any point via online chat, phone, or email.

Why it matters: No matter what your level of investment expertise, it’s nice to know that the team at ModernAdvisor are always there to help answer your questions so you never feel abandoned.

Modern digital platform

No cumbersome paperwork, no booking meetings. You can sign up and access your accounts whenever and wherever you like on mobile and desktop – no appointment required.

Why it matters: If you’re like us, you’re probably not too keen on spending considerable amounts of your time attending meetings and appointments. The ModernAdvisor online platform can help you save time, plain and simple.

Unbiased advice

When you go to RBC they sell you RBC funds. When you go to TD, they sell you TD funds. This may be a problem. But not at ModernAdvisor – they can help pick the best investment funds based on thorough research.

Why it matters: At ModernAdvisor, you can be sure that the investment selection process is 100% clear and unbiased. No smoke and mirrors – the investments selected are simply the best tools for the job.

Full transparency

With any service, you want to know how much you pay and what you get in return. Unfortunately, when it comes to financial services most companies feel it’s better to be opaque – but not ModernAdvisor. ModernAdvisor makes it easy to track your investment returns and see what fees you pay.

Why it matters: Many advisors don’t disclose their compensation and make it difficult to figure out how your investments have fared. The transparency that ModernAdvisor offers can help you make an informed decision.


So are you ready to start investing with ModernAdvisor? Open your account before the end of summer and pay no fees for the remainder of the year. Just make sure you use promocode DailyHive2017 when you sign up at modernadvisor.ca.

So what are you waiting for? If this sounds good to you, you can even sign up for a 30-day trial account and invest using their money. It gives you a great opportunity to get an appreciation for the look and feel of their platform before you commit to opening an account and investing your own money. To find out more visit modernadvisor.ca for more details.


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