Apparently even advisors trust an algorithm to manage investments. In a recent survey of 134 independent financial advisors, 60 percent said they would trust a so-called robo-advisor to help manage and oversee client assets. And a vast majority (almost 98 percent) said they believed human and robo advisors can coexist together within the industry,according to CLS Investments’ survey. Yet 78 percent of advisors surveyed felt robo advisors were a “potential” to “significant” threat to their business going forward. But at least one robo won’t be around to create problems. Plumvo, a website aimed at helping consumers build and maintain financial plans, emailed users this week to let them know it plans to shut down the site on Sept. 15.

Read the Full Article