In the Context of Choosing a Broker, Which of the Following

question 43

Multiple Choice

In the context of choosing a broker, which of the following statements is true of robo advisors?

• A) They need to be manually operated for individual transactions.
• B) They charge a higher annual fee than traditional advisors.
• C) They help people automatically set and track their financial goals.
• D) They typically charge 1% to 2% of assets.

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Definitions:

Wholesale Clubs

Membership-based retail stores offering products in bulk and at lower prices compared to conventional retail stores, often requiring membership fees for access.

Forrester Research

A global market research company that provides advice on existing and potential impact of technology, to its clients and the public.

Retail Apocalypse

The phenomenon of increasing closure of brick-and-mortar retail stores, particularly in the United States, attributed to various factors including the rise of online shopping.

Off-price Retailers

Stores that sell brand-name and designer merchandise at prices lower than conventional retail stores, often overstock or out-of-season items.