A Robo-advisor is an online wealth management service that helps users automate their investment process with little or no human intervention.

Robo-advisors learn a bit about your investment profile by asking you a series of questions regarding your financial situation, investment objectives, and how you see risk. Then, they offer you a suggested portfolio strategy that best suits your preferences and work to invest your funds based on this strategy automatically.

Robo-advisors charge a relatively lower fee than traditional financial advisors. It is charged as a percentage of assets under management (AUM) and can reach up to 1.00% per year.

Mostly, robo-advisors target investors with low capital. Some robo-advisors have very low capital requirement where you can start investing with as low as $1.