Robo-Advisors : Investing through Machines

Abstract

Investing through online automated platforms, known as robo-advisors, is increasingly popular. Robo-advisors expand access to wealth management services by making it easier and less costly to open investments accounts and receive financial advice, as well as plan and automate investment decisions. However, the rise of robo-advisors requires consumers to understand the limitations of these services and to get proper financial education. Policy makers need to grapple with the impact of robo-advisors on the overall financial system, as well as reassess their regulatory and supervisory practices.

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