Robert, I appreciate that you and the CFA Institute brought up this specific question. Based on my own (and my clients) experience the Robo-Advisors are a nice tool for persons who feel very self-confident about its investment strategies–or just do not care about the broadness of today's investment world.

Also, Robos are good to make all of us aware that classic advisors have to deliver outperformance and fees are not a God given freebie.

But a Robo-Advisor will probably never ever deliver the personal touch, tailored investment advice sophisticated investors desire–and virtually everyone deserves. Try to call a Robo-Advisor and ask about its thoughts about the Renminbi or US dividend strategies. Or how about an IRA roll-over.

Finally, a human advisor has to be a well-educated, up-to-date, digitally-savvy investment partner which delivers outperformance or just match a certain risk level at lowest costs.