Alongside the traditional players of the finance world, there are now purely online services. Robot Advice has emerged in the United Sates a few years ago, and more
recently in Europe.
Robot Advisers are mostly only internet - based and use computer programs and algorithms that process the input provided by the consumer regarding its financial needs and risk profile in order to direct customers to the appropriate investments. These automated investment advice services have the advantage of being considerably less expensive than their traditional counterparts and constitute an interesting alternative for those investors who do not require complex and custom-made solutions.
Today Better Finance, the European Federation of Investors and Financial Services Users, published the findings of its research on Robot Investment Advice analysing and comparing the main US - based platforms with a selection of the newer European ones.
Please read the press release here.