I interview Justwealth president Andrew Kirkland about what we as investors need to know about robo-advisors, index funds and ETFs.
Long description:
Don't forget to take advantage of today's episode freebie! Receive a special $50 bonus when opening an account with Justwealth by visiting justwealth.com/jessica-moorhouse. I've been getting more and more interested in investing lately, and it could be for a number of reasons.
Firstly, I'm not as young as I once was. Ever since I turned 30 I can't help but feel a sense of urgency when it comes to building my wealth. Retirement is only a few miles away, and I want to be prepared! Maybe I'm exaggerating, but that's sometimes how I feel if I'm honest.
Another reason is that there are a lot of cool things happening in the investment industry — the big one being robo-advisors. The name itself makes it sound like a robot is taking your money and trading it on the TSX floor, but in reality, it's just a more efficient way of investing. You'll be paying less fees and you don't ever have to leave your living room.
Robo-advisors are a big topic lately, especially amongst Millennials since I feel like they are just a natural fit together. But since it is a relatively new idea, I wanted to interview someone who really knew the ins and outs. That person just so happens to have started his own robo-advisor — Justwealth.
For this episode, president of Justwealth Andrew Kirkland breaks down some core priniciples of investing (what's the difference between an index fund and ETF for instance), and what robo-advisors are all about. Enjoy!
Important Things to Note About Robo-advisors
Robo-advisors in Canada aren't managed by robots or just some algorithm (though that can be the case for some in the United States). Although there's an online interface and pre-packaged portfolios you're suggested by doing an online survey, there are most definitely humans involved, and yes, you will have to talk to them (though maybe just over email). You won't lose all of your money by using a robo-advisor. Although they are relatively new to the investment scene, they are very regulated in Canada, and their intent is not to scam you. Scamming is bad for business. Robo-advisors deal mainly with exchange trade funds (ETFs), however mutual funds are being slowly integrated into the mix too.Learn More About Justwealth
New Canadian robo-adviser promises more than just a ‘basic offering’ - The Globe and Mail Justwealth: The New Robo-advisor in Town - Urban Departures Justwealth Financial Launches Canada's Most Comprehensive Online Investment Portfolio Platform - Yahoo FinanceFollow Justwealth on Social
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Shownotes: jessicamoorhouse.com/66
