What is "robo-advisor"

Robo-advisors are a class of financial adviser that provides financial advice or portfolio management online with minimal human intervention.

Much of the focus has been on portfolio management. While their exact recommended portfolio allocations may vary, currently most robo-advisors employ algorithms such as Modern portfolio theory that originally served the traditional advisory community, which has used algorithmically-based automated investment solutions (dubbed in the industry as "rebalancing software") to conduct portfolio management since at least 2005.