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What role does a robo-advisor play in financial planning and goal setting?

Curious about robo-advisor

What role does a robo-advisor play in financial planning and goal setting?

A roboadvisor can play a significant role in financial planning and goal setting for individuals. Through the use of questionnaires and algorithms, roboadvisors can assess an individual's current financial situation, risk tolerance, and investment goals. Based on this information, the roboadvisor can suggest an investment portfolio that is tailored to the individual's needs and objectives.

Roboadvisors can also monitor an individual's investments and make adjustments as needed to ensure that they remain on track to meet their goals. This can help individuals stay disciplined and avoid making emotional investment decisions that may negatively impact their portfolio.

Overall, roboadvisors can provide individuals with a lowcost, automated solution for managing their investments and achieving their financial goals.

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