Robo-advisors are intelligent financial programs that create and maintain your investment portfolio. You’re required to fill a form highlighting your risk tolerance and financial requirements.
Needless to say, robo-advisors will make you money in all market types. The popularity of these platforms can be attributed to their minimal costs. First off, they charge less than financial advisors.
Likewise, they don’t demand high starting balances. Not forgetting the numerous financial instruments available to users.
Apart from index funds, robo-advisors allow otherwise high-cost assets like real estate and labor savings. They’re also accessible via phone and web applications. Although the systems are automated, humans are involved in programming the software’s decisions and answering client queries.
Check the robo-advisor’s background to ensure no complaints have been raised against them with regulatory bodies. Since they’re also prone to market risks, some investments may fail.
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