What is a robo-advisor?

A roboadvisor is an online platform that provides automated and algorithmdriven financial planning services to investors. These services can include investment portfolio management, financial planning, retirement planning, tax optimization, and more. Roboadvisors typically use sophisticated algorithms to analyze an investor's risk tolerance, investment goals, and financial situation and then suggest a portfolio of investments that is customized to their needs. They are typically designed to provide lowcost, efficient, and convenient investment services, often with no minimum investment requirements.