Charles Schwab to Pay $187 Million After Robo-Advisor Mishap

Charles Schwab to Pay $187 Million After Robo-Advisor Mishap
·4 min read

When you give your money to a financial advisor or stockbroker, you do so with the expectation that it will do its best to make that money grow. In theory, robo-advisors, like human ones, should focus on maximizing your return within your risk tolerance. Recently, Charles Schwab got into hot water with the SEC over its robo-advisor looking out for Schwab's interests, rather than its clients.