Algorithms will still require human intervention and advice to ensure that advisory firms are fulfilling their fiduciary role. (Photo: Shutterstock)
Who are and what are robo-advisors? They are not robots (at least not at this time). A simple definition of a robo-advisor is that of an online service which provides automated investment portfolios based on an investor's risk tolerance level, time horizon and goals.
In many cases, robo-advisors also allow investors access to human advisors. The list of robo-advisors with human advisor access includes Charles Schwab, Personal Capital, Betterment, Ellevest, Vanguard and TD Ameritrade. It is estimated that automated investment platforms exceeded $200 billion in assets in 2017 and will continue to grow.
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
