By Laura McCarron via Iris.xyz
The Internet is a powerful thing. Every day it seems like we gain access to more information, products, and technology. It’s transformed how we work, how we shop, and how we play. It’s also introduced a huge change to the financial services industry: the advent of the robo-advisor.
Love them or hate them, you have to admit that your job would be tough without the power and automation of the algorithm-driven robo-advisor. And they’ve come a long way, fast. The first robo-advisor had one job: to rebalance assets within target-date funds, allowing investors to manage passive, buy-and-hold investments online. Since then, what they do and how they are used has grown tremendously. Plus, because robo-advisors are available to anyone with access to the Internet, they’ve disrupted the industry’s service model by offering their services at a fraction of the cost of a professional financial advisor.
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