FAQs - Let Bob

What is a Robo Advisor?

A Robo-advisor is a class of financial advisors that provide financial advice and investment management online with moderate to minimal human intervention. They provide digital financial advice based on mathematical rules or algorithms.

Does Bob handle my money?

No, Bob doesn’t handle any funds. When your bank account is linked, it is connected to your brokerage account with Tradier, our broker-dealer. Bob, as the Robo-Advisor, uses the funds to execute buying stocks, but does not have the ability to withdraw or deposit money in your linked account.

Will my funds be insured?

Yes, your funds are secured by Tradier’s insurance as the broker-dealer. Tradier is insured by SPIC (Securities Investor Protection Corporation). SIPC provides limited coverage to investors on their brokerage accounts if their brokerage firm is unable to pay debts. It protects against the loss of cash and securities – such as stocks and bonds – held by a customer, like you, at a financially-troubled SIPC-member brokerage firm. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash.

Does Bob buy cryptocurrencies?

No, Bob does not buy cryptocurrencies.

How often does Bob trade?

The model providers have established the timing for trading stocks/ETFs within the model. Bob will execute trades in alignment with these investment strategies.

Why do I have to add personally identifiable information?

Brokers need personal information to comply with tax laws, anti-money laundering regulations, anti-terrorist financing requirements, record-keeping procedures, and determining suitable investments.

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Disclosures: Let Bob Advisory, LLC (“Let Bob Advisory”) is a registered investment adviser with the Securities and Exchange Commission (“SEC”) Information provided on this website is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives. Past performance does not guarantee future results, and the likelihood of investment outcomes are hypothetical in nature. Let Bob Advisory is not affiliated with or endorsed by the Social Security Administration or any other government agency. A copy of Let Bob Advisory’s current written disclosure statement (“Form ADV Part 2A”) discussing its business operations, services, and fees is available on the SEC’s website at www.adviserinfo.sec.gov. Additional information is available in our Client Relationship Summary. Please click here .

Let Bob Advisory does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Let Bob Advisory’s website or incorporated herein and takes no responsibility therefor. If you would like to request the deletion of your account in the Let Bob Robo Advisor app, please click here.

What is a Robo-Advisor?
The term “Robo-Advisor” generally refers to an automated digital investment advisory program. It provides digital financial advice based on mathematical rules and/or algorithms.

Will my funds be protected?
When you open a brokerage account with Tradier Brokerage, Inc (a Securities Investor Protection Corporation (“SIPC”) member brokerage firm), SIPC protection helps address your risk of losing your securities and cash held by the firm if it fails or goes out of business. If a SIPC member brokerage firm fails, SIPC protects its customers against the loss of securities and cash deposited with the SIPC member firm for the purchase of securities. SIPC protection advances funds of up to $500,000 per customer (including a $250,000 limit for cash claims) to cover a shortfall in customer property.