Old Shooter ran an experiment with Schwab's robo portfolio a couple of years ago. Maybe he will chime in and report how it came out?
G'mornin'
Bottom line is if you're smart enough to consider a 60/40 or some other reasonable AA for your situation, I'd say go ahead and do it.
Probably they all work pretty much the same, but here's my experience with the initial Schwab freebie advisor looking at equities only:
It started with a questionnaire designed to ferret out your risk tolerance, objectives, age, etc. and after each run it proposed an allocation. The baseline assumption is that the robo is getting 100% of your stash. I wanted as much equity as possible and after several runs I finally got it to 95% equity and 5% cash. At that time (beginning 1/1/2015) it was obviously Schwab's strategy to make money on cash held in the "free" account. I don't think that is/was particularly evil; they have to make money to stay in business.
Long story short, they spread $100K across 11 Schwab index-type funds and one VG REIT. Completely ridiculous. I let it run until the end of September 2017. At that point its performance was fairly close to a 60/40 benchmark that I was running at the same time, but I was totally bored with all those tiny fund positions showing up on my investing reports. Now this was before the big fee wars, so I would expect that with lower fees the robo would have been even closer to being competitive. My overall conclusion was that the robo might be fine for a young and naïve investor -- certainly they could do worse -- but there was no magic there.
Other providers will have different portfolios. I would want to look at competing proposed portfolios before making a choice. I would be particularly wary of Fido possibly wanting to include stock pickers. I remember reading the Abby Johnson is skeptical of index funds and, of course, they make more money with the stock pickers. VG, I don't know; hopefully they would stick with index funds.
