Robo Advisors: Online Financial Advisors That Fit in Your Pocket

Robo advisors are steadily growing in popularity, and these online investment advisors are threatening to take massive amounts of business away from traditional financial advisors. Automated financial advisor apps and services will manage approximately 10% of all global assets under management (AUM) by 2020, according to projections from BI Intelligence, Business Insider's premium research service. But how do robo advisors work? Is automated portfolio management truly better than a human being who manages your funds? Read on to learn the basics of robo advisors and what the future holds for this segment of the finance world.