Robo-advisory – an alternative to traditional financial consulting

Abstract

Robo-advisory presents an innovative approach to traditional consultancy, that has risen in a noticeable manner during the past decade. This concept is driven by advances in technology, and works on the basis of algorithms to determine an efficient plan for putting to use personal assets. Its accessibility and convenience make it extremely appealing to the general public, because, unlike traditional consulting, it may fit any busy schedule and offer solutions for all needs. Looking ahead, the future of robo-advisors appears promising in more ways than one. It is expected of robo-advisory services to gather a broader user base, therefore leading to overall optimization and a significant increase in revenue. This paper explores the trend of robo-advisory services, providing an analysis on the reliability of their use in personal finance management and investment. More precisely, there will be provided insights into the strengths and limitations of these services, therefore helping individuals make a rational choice.