Robo-Advisors
DEFINITION
Robo-advisors are computer-based systems that offer automated financial planning with little or no human help. They gather information about a client's finances and goals through an online questionnaire, then use that data to suggest an investment allocation. They often provide account setup, goal planning, portfolio management, and security features at lower fees than traditional human advisors.
ELI5
It is like using a smart online tool to help plan and manage your investments. You answer questions, and the system builds an investment plan for you.
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