As robo advisors matured, it became clear that sometimes they could do an effective job by themselves. Group of answer choices t

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As robo advisors matured, it became clear that sometimes they could do an effective job by themselves. Group of answer choices t

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Degger [83] · Answer 1 · 2024-01-17T15:10:30+03:00

As Robo-advisors mature, it is clear that they can do an effective job by themselves. This statement is true.

Robo-advisors are digital financial platforms that provide automated, financial planning services with little to no human supervision. They ask questions about an individual's financial situation and future goals through an online survey; it then uses the data to offer advice and automatically invest for the individual.

They are often inexpensive and require low opening balances, making them available to retail investors. They are best suited for traditional investing and make use of modern portfolio theory.

They are more accessible, they hold the same legal status as human advisors, and reduce the influence of human advisors. They make money on the interest earned on cash balances.

To know more about Digital financial platforms,

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