Robo-advisers have grown in popularity and assets over the past several years, attracting money from clients of traditional wealth managers, as well as smaller investors looking to get involved in investing for perhaps the very first time. In fact, industry observers now predict that robos could manage close to $2 trillion within just the next few years as more consumers become comfortable with the idea and larger firms put their hats in the ring. While there have been some robo-advisers that have grown faster than others to this point, one thing that is almost certain is the constant need for evolution in order for firms to separate themselves from the rest of the pack.
Whether it is through mere name recognition or association, or a quick Google search, prospective users choose a robo-adviser and begin the onboarding process. This is generally done by answering a series of questions primarily surrounding risk tolerance and goals in order to receive a recommended portfolio.