The evolution of Robo advice

By Josh Miszk, CFA, CFP

Special to the Financial Independence Hub

Alongside the rapid growth of the online wealth management space is the speed with which firms are evolving to investors’ demands.

Some of the first online investment managers in Canada have evolved their initial investing models to include services like financial planning, advisory firm partnerships, and now, a platform offering portfolios from multiple management firms.

One of the challenges in evaluating cost, performance, and reputation across multiple “robo-advice” platforms is looking at their similarities and differences to get a real sense of how each portfolio compares. In addition, many firms are relatively new and, while investors like the experience of working with an online advisor, they’re restricted to portfolios designed solely by the same firm they feel provides that great experience.

A simple way of choosing the right portfolio

In response to the demand for greater choice, we’ve created a platform that offers clients multiple portfolio options created by two of the largest and most reputable institutional money managers in the industry; BlackRock and Vanguard. In working with these two firms, we are not only leveraging the quality of their investment products, but also their expertise in providing great portfolio solutions.

This addition will allow potential clients to compare and select portfolios based on our recommendations for them, as well as the elements of a portfolio they value most, like performance, asset allocation, and cost.

Upon logging onto, potential clients can complete a short questionnaire and receive a personalized portfolio recommendation. From there they are recommended an asset mix that’s suitable for their personal situation. With these new portfolios they’ll see multiple suitable options within that asset mix, one of which is recommended specifically for them.

A benefit of our model is that it’s hands-off, and clients have the peace of mind knowing there are qualified financial advisors taking care of the management of their portfolio. Providing them with more options allows us to involve them in the initial process of constructing their portfolio, and ensuring they’re comfortable and happy with their financial plan.

Providing clients with choice

We believe this is the first step in offering Canadians more choice without overwhelming them with options. This process offers them a simple way to view the options and make an informed decision.

In the future, we plan on adding even more options while keeping the choice simple for the user. Invisor was founded on the principles of simplifying the investment process for Canadians, and providing great solutions at an affordable cost. Our arrangement with other money managers brings those principles to life, while providing our clients with the option to choose.

 Josh Miszk is the Vice President of Investments at Invisor Investment Management Inc., an online financial advisor in Canada that provides personalized investment management services. Josh’s goal is to make it easier for young Canadians, like himself, to create a plan for their families and help them achieve their financial goals sooner.

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