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A financial planner with an all virtual-practice says hiring an investment manager is almost never..

I can't post the full article because Business Insider charges to read it, but here are my quotes.

According to certified financial planner Colin Overweg, who has an all-virtual planning practice called Advize Wealth Management, it's a job that's "so easy a robot can do it."

Overweg said that this reduction in fees should be really important to investors.

"An active management fund might cost 1% [of assets under management] while an inactive management fund might cost 0.01%," Overweg said. "So there could literally be a 100 times difference in the fees. What the evidence and research has shown is that the higher the fees, the lower the probability of net performance."

In fact, Overweg believes the robo advisors are a better option for investors than "what the wealthiest of the wealthy people had access to 10, 15, and especially 20 years ago."

For the most part, Overweg does not believe that you should hire a financial advisor if all you are looking for is investment management services, especially if you are taking a very basic or standard approach to investing.

"When you add in an advisor fee, you're probably going to end up just doing better by yourself," Overweg said, adding that if you do hire an advisor it should be because you are looking for them to offer advisement on managing your finances holistically and helping you achieve certain goals, like buying a house.

Overweg said that his two favorite robo advisor platforms at this time are Betterment and Wealthfront.

"They have direct retail versions of them, so you can download them without needing an advisor," he said. Here is a brief breakdown of what each platform has to offer.

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