1. What is a Robo Advisor?
Robo advisors are digital services that provide automated financial planning services driven by predetermined algorithms. They operate with little to no human supervision. The robo advisors collect your information on your current financial situation as well as your future goals. They then use this data to automatically invest your assets. Sometimes they even offer financial advice. The first such tools go back all the way to 2008. Now robo advisors control approximately $222 billion in assets.