Peter J. Creedon, a certified financial planner with Crystal Brook Advisors in Mt. Sinai, N.Y., cites a client in her 20s who came to him after a bad experience with a robo. Facing a personal budget squeeze, she spoke with a staffer at a robo service who urged her to save money by getting rid of her dog.
“She didn’t leave (the robo-advisor) with a warm, fuzzy feeling,” Creedon said. “I looked at it from a different perspective. Instead of just cutting costs, I looked at how to make her business more successful. We did a business plan to ensure she could make certain numbers. And she was able to keep her dog.”