What are the benefits of using a robo-advisor?

There are several benefits to using a roboadvisor:

1. Lower fees: Roboadvisors typically charge lower fees compared to traditional human financial advisors, as they use automated algorithms to manage portfolios.

2. Accessibility: Roboadvisors are accessible to a wider range of people, including those who may not meet the minimum investment requirements of traditional financial advisors.

3. Convenience: Roboadvisors are available 24/7 and allow investors to manage their portfolios from anywhere at any time.

4. Customization: Roboadvisors use algorithms to customize portfolios based on an individual's financial goals, risk tolerance, and investment horizon.

5. Transparency: Roboadvisors provide investors with detailed information about their portfolio holdings, performance, and fees, which promotes transparency and helps investors make informed decisions.