&gt; Wealthy individuals have access to investment strategies resemble far more the philosophy of large pension funds than robo-advisors.<p>I know these are naive questions, but here goes: do those pension funds differ greatly from large university endowments?  How do those differ from what one can achieve using a combination of cheap index funds?  Ramit Sethi famously recommended an allocation based on David Swensen&#x27;s experience managing the Yale endowment.  You can find index funds to match that reasonably well.  How different will that be from what Yale or a pension fund actually does?