n. An online investment tool that provides automated portfolio management services based on predefined algorithms and policies.
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In the space between DIY investing and personal — but expensive — financial advisors sits the robo-advisor, a crop of companies that manage client portfolios via computer algorithms, cutting costs and passing the savings on to investors.
—Arielle O'Shea, “The Best Robo-Advisors,” NerdWallet, March 14, 2016
Robo-advisors are advisors like wireless phone company telephone prompts are communications consultants.
—Roger Gershman, “Robo-Advisors Versus Financial Advisors — Which is Best for You?,” Forbes, April 30, 2015
Last month, both Charles Schwab Corp and Fidelity Investments unveiled so-called "robo" advice programs that offer free or very cheap algorithm-driven portfolio management to investors. …Fidelity said on Oct. 15 that it would refer its advisers who wanted a low-cost automated investment offering to Betterment, one of the largest of the new robo-advisers.
—Hilary Johnson, “Flesh-and-Blood Advisers Face Threats from Robots,” Time, November 03, 2014
2002 (earliest)
—Richard J. Koreto, “Robo-Adviser,” Financial Planning, March 01, 2002
Use a robo-advisor to choose your classes? Might actually help, but students still need the human touch too.
—Karrie Heartlein, “Use a robo-advisor…,” Twitter, April 18, 2011