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  • Writer's pictureDarryl Smith

Thinking about investing with a robo-financial advisor? Read this first!


Today’s world is all about DIY solutions. It seems like you can practically do anything yourself - from home fixes to financial solutions. But some things are better with the help of a professional, especially when your financial future is on the line! Although trusting your finances to a robo-advisor can be tempting for several reasons, it’s absolutely necessary to do your research first, before investing your hard-earned money.

It’s not a question of “can you”, it’s a question of “should you”?

What does your retirement look like? Are you travelling the world? Maybe you see yourself relaxing at home and spending more time with the ones you love? No matter how you envision it, your finances need to align to your lifestyle. That’s why investing your money should be done with careful consideration. After all, you’re putting that money aside for your dream retirement and a bad investment choice or uninformed decision may put those savings at risk. I always encourage my clients to have big goals and to prepare for a time in their life where they can enjoy financial freedom. That’s why I advocate for financial solutions that puts YOU first. By putting your investments on autopilot, your “advisor” doesn’t get to know you and you may not be able to achieve those financial milestones.

Robo-advisors can help you save, but are they the best tool for the job? Robo-advisors popularity has been on the rise in recent years, and has made investing more accessible to many Canadians, especially the younger generations. With low fees and smaller investment minimums, they are great for getting your foot in the door.

However, they are perhaps not the best tools when putting together an investment plan for big goals like retirement. Instead, tools like TFSAs, RRSPs and more are in place to help you get the most out of your money and build an impactful retirement strategy.

This is where working with a financial advisor is incredibly beneficial. A financial advisor knows all of the savings options that are available to you and can tailor a plan that works towards achieving your biggest financial goals. Consider your financial advisor more like a financial “partner” who is helping you pave a path to your best life! Not only that, having someone on your side makes adjusting your plan a lot easier, and your financial professional is there to answer your questions along the way! It’s important to note, computers only do what we tell them to do, whereas a financial advisor will ask the tough questions and propose what-if scenarios along the way which a robo-advisor wouldn’t have the right information or ask you the right questions do effectively.

Sure, a robo-advisor is a useful savings tool for the appropriate goals, but it sure doesn’t take the time to get to know you! Having a professional advisor on your side makes all the difference when it comes to building a savings plan that works towards your big dreams. Automation has its place, but I believe that a human touch is the best way to get the most out of your investments and savings. Get your money working for you by calling Darryl Smith at Synergy Life Financial today! Together, we can build a plan that sets you up for retirement within 10 years, so you can truly live your best life! Want to get started online? Check out my “financial snapshot” tool here!

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