Fiduciary implies making suitable recommendations based on a comprehensive understanding of the client’s goals and unique situation. If a handful of generic questions are deemed sufficient for Know-Your-Customer, then dating applications like Tinder are better fiduciaries than most automated investment tools today and the risk tolerance questionnaires they employ.

(The number of risk profile questions asked by robos in 2015 to obtain asset allocations ranged from Hedegeable's high of 16 to Betterment's and AssetBuilder's low of 4 questions, according to a recent study by Cerulli Associates. Schwab's Intelligent Portfolios asked 12 questions; Wealthfront and FutureAdvisor (now under BlackRock) asked 7; and SigFig asked 6 questions. Cerulli researchers noted that the number of initial questions might be misleading, since investors are sometimes asked more questions after they sign up, but before they invest.)

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