Robo-advisors are fintech companies that offer online asset management services. Through the high level of automation and standardization in terms of advisory services, they are generally less expensive than human financial advisors. However, they are restricted in the customization of their advisory services as they skip the associated advice and interaction with customers that a personal advisor can provide. Through the sole use of software programs and entered customer data, a specific investment strategy is developed and presented to the customer.
German: Robo Advisor (700)
Source: Fintech-Hub m. e. E., 29.05.2019