Several years ago, the idea of computer software managing and selecting the optimum investments for an individual’s retirement account, was not heard of. Today, there are numerous “robo-advisor” options out there that rely on computer algorithms and software to help manage portfolios more efficiently. Betterment is one such online company that offers robo-advisor services, but the real surprise and catalyst for this emerging concept is the fact that the big brokerages are now showing interest in the robo-advisor concept. The Charles Schwab Corporation (SCHW) has released a feature known as the Schwab Intelligent Portfolio (SIP). The Schwab Intelligent Portfolio is Schwab’s proprietary answer to robo-banking and advising.
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