What is a Robo-advisor? General Finances
By Gibs, 8th August 2018
In the fintech age we live in today, the term robo-advisor or robo-advisory gets thrown around a lot. So what is it actually?
It is a service that replicates the roles and functions of a bank teller and financial advisor.
Simply put, it is a service that replicates the roles and functions of a bank teller and financial advisor, all done by (you guessed it), a robot. This robot is programmed to help you manage and invest your money intelligently based on certain instructions you give it.
How these robots ‘think’ is set by turning investment strategies into executable programming.
They also take into account your personal risk profile and investment preferences. (Click here to learn more about risk profiling.) In this way, the robot knows what to do when certain situations arise, to adjust your investments accordingly, playing