What is a Robo Advisor?

What is a Robo Advisor?


Put simply, robo-advisors are online wealth management services. They are automated software platforms that provide recommendation of an investment portfolio.  The client answers some questions online such as age, how much money they wish to retire with, income, and their attitude to risk.  Following this, one of a few “ideal” portfolio selections of assets are then recommended. The revenue robo-advisors often comes from the commission of the product sale.


Robo-advisors first came onto the scene in the US and were independent of financial institutions. However, some financial advisory groups have developed their own hybrid model of robo-advisors.

So what’s the alternative?

Financial Mappers fills the gap for those who want to manage their finances independently – it’s your Personal Financial Management Hub. It provides an option for people who want to comprehensively manage their finances.

The interactive calculator in the Financial Mappers software allows independent inputs and particular lifestyle parameters to be entered and altered by the user.Information including home, loans, debts, investments, property, superannuation, SMSF, credit cards, and personal living expenses can all be included, so nothing is overlooked.

Even better, the use of extensive modelling tools, allow you to create multiple “what if” scenarios which enable you to have access to a wide range of information and future projected results. Once chosen, the preferred investment plan can then be tested against a range of different economic cycles or historical data.  Financial Mappers also generates a series of reports based on information provided by the user. These easy to understand reports allow you to take control by acting on them independently or taking them along to a meeting with a financial advisors allowing you to be more informed.

At the end of the day, you may still want to invest in a managed fund.  There are plenty of options available and you can choose the one you think will best suit your needs when considered with all your other investments.   Please note that we suggest that you seek professional advice if you think this may be suitable for you.
Find out how you can ditch the debt and manage your finances without the risk with Financial Mappers.


Disclaimer: Financial Mappers does not have an Australian Financial Services License, does not offer financial planning advice and does not recommend financial products.

I am a founding board member of Plencore Wealth Ltd and Plencore Online Pty Ltd. I am the designer of the product Financial Mappers and Financial Mappers PRO, cloud based modelling software for Personal Finance. This software is sold on the web site www.financialmappers.com.au.I am an educator, investor and expert in both personal finance and mathematical modelling and the author of 'Map Your Finances'.I have both a Graduate Diploma in Applied Finance and Investments and a Diploma in Financial Advising from the Securities Institute of Australia. I also have a Financial Analysis Certificate, by Distance Learning from University of Technology, Sydney. I am a Senior Fellow and Senior Mentor of FINSIA.
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