Robo-advisors are a class of financial adviser that provides financial advice or portfolio management online with minimal human intervention.
Much of the focus has been on portfolio management. While their exact recommended portfolio allocations may vary, currently most robo-advisors employ algorithms such as Modern portfolio theory that originally served the traditional advisory community, which has used algorithmically-based automated investment solutions (dubbed in the industry as “rebalancing software”) to conduct portfolio management
Robo-advisor (robo-adviser) use the same software as traditional advisors, but usually only offer portfolio management and do not get involved in more personal aspects of wealth management, such as taxes and retirement or estate planning.
Below is a list of several robo-advisors:
Services: Brokerage Accounts, Retirement Funds, Financial Planning Tools, Corporate Services, E*T