Robo advice refers to the service of providing financial advice using algorithms and automation and without the direct involvement of a human adviser during the act of providing that financial advice. Robo advisors typically also manage your wealth through a Managed Discretionary Account (MDA) structure or separately managed account structure or individually managed account structure, or through a managed account.
We at QuietGrowth categorise a firm as a robo advisor if it provides digital investment management service including ‘personal financial advice’ and ‘general financial advice’.
Robo investing is an investing platform that uses automation or algorithm tools for investment but does not provide ‘personal financial advice’ to the client. Some information provided by a robo investing platform to a client might be called ‘general financial advice’.
- Should a firm that does not offer ‘personal financial advice’ be called a robo advisor?
- Does a robo adviser give personal financial advice?
- What is the difference between robo advice, digital advice, and automated advice?
- Conventionalisation of the new term ‘robo adviser’
- An introduction to discretionary investment management
- Financial advisers and discretionary investment management
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