Good commentary. In reviewing the portfolios of a couple of robo-advisors I found that there were modest differences between them, just adjustments in the allocation between different ETFs. I am sure that there are some who do more work. The good news is that these providers drive the costs down. The bad news is how much value do they actually add? I think that the jury is still out on this one. But behind all the glitzy web sites is the same old stuff. Basically a fund of funds but we now call them ETFs. Has Bernie Cornfeld come back? He must be having a real howl wherever he may be. Nothing changes under the sun, at least not that much!