NEW YORK (MainStreet) -- The smart money machines are getting smarter, cheaper and are proliferating at Terminator speed. Intelligent machines not only want to assimilate our middle class jobs, they want to manage our money. Moore’s Law projects that computers will equal the processing power of the human brain by 2025. In the meantime, hand over your retirement account.
Robo advisors -- automated computer algorithms that allocate, deploy and rebalance our investments – are the hot topic in the financial advisory biz. And consumers, especially young adults, are warming to the idea. Low fees, a watchful HAL 9000 eye and Spock-like objectivity are some of the reasons why. There are so many services to choose from that we narrowed the field to the Top 10 for you. OK, technically, the Top 9 -- with the last slot serving as an inventory of additional players in the sector.
Remember, the fees listed in the ranking are in addition to charges imbedded in the investments, such as management expenses found in mutual funds and exchange-traded funds (ETFs). Robo advisors are listed in descending order, based on reported assets-under-management.