The rise in technology’s role in our day-to-day lives indicated our dependency on modern inventions with each passing day. From paying our bills to getting our groceries, now you can do everything at your fingertips. The same is true for financial advising. With technology making its way through the financial sector, Robo finance management software has further in apps. One can define a Robo app as a self-guided online wealth management service that provides automated investment advice. Technically, the term financial advisor applies to entities that advise about securities. However, the Robo finance app provides services limited to portfolio management. A Robo advisor app is a Robo finance advisor software developed into a user-friendly app interface to provide smooth and easy functioning.
Features of Robo Advisor App
While the software to app transition changes many things about the service, the one thing that remains unchanged is the services offered. Here is the step by step guide to the features of a Robo advisor app:
- Services offered- Robo apps usually offer portfolio management. However, the tools used by the apps to man equity portfolios. The main difference arises from the distribution channel. Unlike traditional ways, the Robo financial app provides its consumers with easy access to a client’s portfolio; however, it differs from the conventional portfolio management method. The portfolios offered by Robo apps are mainly exchanging trade funds, while some offer portfolio management tools.
- Financial Planning: The goal-setting assistance feature helps its clients plan their savings in-depth for broad goals like home purchase or real estate purchase. The terrific financial planning helps the consumer sees the bigger picture. The app also shows its user the trade you may have to face off in multiple goals.
- Easy access: All you need to do is run the app on your device, and all the data you need is in front of your eyes. The app and its features are available 24/7 as long as the user has an internet connection.
- Efficiency- Before the Robo advisor app, a client would need to physically visit a financial advisor, fill out the paperwork, and wait for their response. Now, you can access all that with a few clicks in the comfort of one’s abode.
Since introducing the first Robo financial advisor in 2008 to over a decade later, Robo financial advisor app can deliver results to much more complicated tasks such as tax-loss harvesting, investment selection, and retirement planning. With more development and the introduction of more devices and features, human life is on track for getting more comfortable and better.