Robo-advisers give decent financial advice on the cheap

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You’ve got some money you want to invest. Where should you put it?Increasingly the answer is to use robo-advisers, which use algorithms to invest for you based on your age, goals and risk tolerance. Some 3.5 million adult Americans will use a robo-adviser this year, according to eMarketer, which projects that will increase to five million in 2025.  That has been driven by strong interest from millennials, who, according to Vanguard, are twice as likely as young baby boomers to think about using a robo-adviser. Yet with an estimated $460 billion in assets under management (AUM), robo-advisers comprise only a tiny sliver of the $29.1 trillion AUM of the U.S. wealth management industry, according to Aite Group. Still, robo-advisers can be good choices for new investors, busy people who don’t want to do it themselves or those who don’t have much to invest but want to be diversified and keep their costs down. And they are offering more customized services for people w
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