But what exactly is robo-advice and how does it differ from traditional platforms? James Robinson, an associate at Alexander Forbes Wealth, says robo-advisers are an online solution for investors which make use of algorithms to manage a portfolio based on a client’s personalised parameters.The client inputs their time horizon and risk appetite before a quick calculation gives the investor a choice of funds that suits their requirements.
A Research and Policy Briefs by the World Bank states that robo-advisers can provide several advantages over traditional human advisers. Robo-advisers can be conveniently accessed at any time, from anywhere with an internet connection.
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