7 On Your Side: Consumer Reports looks at using robo-advisors for financial investments

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7 On Your Side: Believe it or not, more and more people are using a robot to invest their savings. 7 On Your Side' Michael Finney partnered up with Consumer Reports with more on whether it's a good idea. (KGO-TV)

Believe it or not, more and more people are using a robot to invest their savings. 7 On Your Side' Michael Finney partnered up with Consumer Reports with more on whether it's a good idea.

In this era of self-driving cars, what decisions are you comfortable entrusting to a computer? How about financial advice? New digital platforms can manage your portfolio and charge less than a human financial advisor. Consumer Reports examines whether it's time to make the switch to a robo-advisor.

Deciding between a costlier human adviser and a cheaper computer solution depends on a variety of factors, including your financial circumstances, your reaction to risk, and your comfort level with recently developed technology. Watch the video above for Michael Finney's full report.

Consumer Reports is published by Consumers Union. Both Consumer Reports and Consumers Union are not-for-profit organizations that accept no advertising. Neither has any commercial relationship with any advertiser or sponsor on this site.

(All Consumer Reports Material Copyright 2014. Consumers Union of U.S. Inc. ALL RIGHTS RESERVED.)
Related Topics:
finance7 On Your Sideconsumer reportsconsumer concernsconsumerfinancepersonal financeinvesting
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