- Robo-advisors are digital platforms that provide automated algorithmic investment services with minimal human oversight.
- They often automate and optimize passive indexing strategies based on modern portfolio theory.
- Robo-EAs are often inexpensive and require a small initial balance, making them accessible to retail investors.
- They are best suited for traditional investments and are not the best options for more complex matters such as estate planning.
- Robot consultants have been criticized for their lack of empathy and complexity.