What is the difference between a roboadvisor and a traditional financial advisor?

What is the difference between a robo-advisor and a traditional financial advisor Introduction: The Changing Face of Financial Advice Hello everyone! As the world of finance continues to evolve, so does the way we receive financial advice. Gone are the days when traditional financial advisors were the sole go-to for investment guidance. Today, robo-advisors have emerged as a popular alternative, offering automated and tech-driven solutions. But what sets these two approaches apart? Let's dive in! Robo-Advisors: The Rise of Automation Robo-advisors, as the name suggests, are digital platforms that leverage algorithms and automation to manage investments. They offer a streamlined and efficient way to invest, often at a fraction of the cost associated with traditional advisors. With robo-advisors, the investment process is largely hands-off, with the platform handling tasks such as portfolio rebalancing and tax-loss harvesting. This can be particularly appealing to those who prefer a more passive approach to investing or have a smaller portfolio size. Traditional Financial Advisors: The Human Touch While robo-advisors excel in automation, traditional financial advisors bring a human touch to the table. These professionals often have years of experience and can provide personalized advice tailored to an individual's unique financial goals, risk tolerance, and life stage.