A Robo-Advisor is an online platform that uses algorithms and automated processes to provide financial advice and manage investment portfolios. Robo-advisors are designed to make it easier for individuals to invest their money and manage their portfolios, and they typically offer a range of services such as asset allocation, portfolio rebalancing, and tax-loss harvesting.One of the main benefits of robo-advisors is that they are typically lower cost than traditional financial advisors, as they do not require the same level of human intervention. This can make them an attractive option for individuals who are looking to invest a smaller amount of money or who are seeking a more cost-effective way to manage their investments.Robo-advisors typically use algorithms to analyze an individual's financial situation, risk tolerance, and investment goals, and then recommend a portfolio of investments that is tailored to their needs. They may also provide ongoing management of the portfolio, including rebalancing to ensure that it remains aligned with the individual's investment goals.While robo-advisors can be a useful tool for individuals looking to manage their investments, it is important to keep in mind that they are not a substitute for the advice and guidance of a financial professional. It is always a good idea to consult with a financial advisor or other qualified professional before making any investment decisions.
