Robo-advisors are online platforms that provide automated, algorithm-driven financial planning services with no human supervision. Using an online survey, a specific Robo-advisor collects information from customers about their financial situation and future goals and then uses the data to provide advice and automatically invests customer assets. The best Robo-advisors provide easy account setup, robust target planning, account services, portfolio management and security features, attentive customer service, comprehensive education and low fees.
Benefits of Robo advisors
- These are digital portals so that connectivity is accessible 24/7.
- In terms of fees and investment, they are a fairly straightforward platform.
- Such online platforms are easy to use and very user-friendly. Without much effort, a newbie can also register. A large number of startup enthusiasts reach this field. Through an excellent interface, you can enjoy a comfortable user experience.
- Using SMS or email to receive daily portfolio alerts or related stuff.
- Compared to traditional financial planners, robo advisory charge a lower fee, so it is a cheaper option than traditional financial planners.
- You will see less human intervention. As a result, you will see appropriate investment opportunities.
- You can use useful financial planning tools for retirement planning, tax planning and other long term goals.
- Minimum investment requirements. Therefore, it can be a good option for small investors who want to invest a small amount initially.
- Robo-advisors are often very inexpensive and require very little opening balance so that almost everyone can benefit from Robo-advisors if they choose so.
- Robo-advisors often automate and adapt passive-indexing strategies that follow mean-variance optimization
- Robo-advisors are digital platforms with no human supervision that provide automated, algorithm-driven investment services.
Easy steps to follow the investment process
- On the respective Robo Advisor site, you must complete an online form. It contains all your necessary information like name, address, email id, etc.
- Your KYC (know your customer details) or not completed is currently replaced by cKYC or central KYC.
- You may need to answer specific questions about your age, investment goals, risk profile, investment amount, etc.
- Such automated advisors will analyze your risk profile, requirements and calculate results based on the answers to the questions asked. In other words, a financial portfolio will be prepared for you.
- Based on your answers to the questions asked, these Robo advisors will assess your risk profile, requirements, and calculate results. In other words, they will build a financial portfolio for you.
- Many such online sites are available. However, some of them may charge a nominal fee for their offered services.
- You can view your portfolio and efficiently track, monitor and revise your monthly investments as needed.
Now, here is an informative list through significant, small, developed and financial Robo advisors in India. Who provides their clients with customized financial planning and investment services?
Note: We aim to make you aware of the personal finance world of recent trends and advances. The ultimate decision must be yours whether you want to listen to your financial planners’ offline and check out these platforms powered by new technology.