Robo-Advisor
Also called: robo advisor, automated investing, digital wealth manager
A robo-advisor is software that builds and maintains a diversified portfolio for you from a risk questionnaire, handling allocation, rebalancing and often tax-loss harvesting automatically. Fees run around 0.25% versus roughly 1% for a traditional advisor, on top of the underlying fund costs. What you're buying is discipline and automation, not stock selection — the portfolios are typically plain index funds, which you could hold directly for less if you'd actually rebalance.