. Unlike actively managed funds, these types of passive funds aim to mirror the performance of a market index, such as the S&P 500 which tracks how well about 500 large, publicly U.S. listed companies are doing.
But unlike ChatGPT or other AI chatbots, robo-advisors are required to comply with the Securities and Exchange Commission's securities laws and standards. On the other hand, a traditional financial advisor, such as a certified financial planner, can offer tailored or custom-built investment portfolios and help you understand how your investments fit into your overall financial goals, says Boneparth.
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