Investing is not a child’s play, and any money-related decision is always a critical one. This is the reason why people seek help from wealth managers and financial advisors for managing their assets and money. However, in the recent times, with the advancement in technology, there is a conflict going on in the financial industry – robots vs. humans, algorithm vs. wisdom! 
Robo-advisors have been gaining a lot of traction in the past few years, alluring mainly the younger investor and people with little to no investing experience. But does that indicate these completely mechanized online investment platforms are right for every investor, in all situations? Let’s take a look at both sides. 
What is a robo-advisor? 
Truth to be told, robo-advisors are not really advisors in the traditional sense. Robo-advisors use an algorithm to create portfolios for investors. You answer a list of questions on their website and based on your preferences, they recommend opportunities to save and invest as well as creating an investment portfolio for you. And the reason why they are in the uprising is that they managed a total of more than $200 billion in assets for clients.
How do robo-advisors work? 
As robo-advisors are based on an algorithm and are basically software, the investors will find themselves filling out financial questionnaires to help the algorithm determine their investment preferences. For example, as an investor, your choices may include:
1. Your present portfolio information
Accessing your current investments helps the robo-advisor to gain insight on your preference, resulting in decisions that can successfully fit together with your financial goals. 
2. Your retirement goals
You need to tell the robo-advisor your retirement goals in order to let it plan and help you get there. 
3. Your age and investment timeline 
If you are in your 20s, you will have a much different financial needs than a 50-year-old who is approaching retirement. 
4. Your personal risk tolerance 
You need to specify the robo-advisor whether you prefer lower-risk opportunities or are looking for high-risk investment. 
The Benefits of robo-advisors 
When it comes to managing and growing investments, many investors value the ease of robo-advisors’ automation, among other benefits. 
Lower Fees
The cost of a robo-advisor is typically less than what you would pay for a human financial advisor. 
Minimal Human Error
When it comes to robo-advisors, investors can rest assured that there will be no unintended errors. Yes, of course, it would be awkward and uncomfortable to leave a robot manage your investments and money. The best robo-advisors in Canada are way too evolved to make accidental errors that come with being humans. The same can be said the main robo-advisors in United States and the United Kingdom. When you invest with a robo-advisor there is no messy emotions, no panicking that can get in the way of long-term financial growth, and no selling off stocks too early. This is the most significant benefits of robo-advisors over human financial advisors.
No Awkwardness
One of the major benefits of having a robo-advisor is that there will be no uncomfortable moments between you and the robo-advisor. In the case of a human financial advisor, there are chances that the investor and the advisor may not get along in a certain circumstance. This is not the case with a robo-advisor, and you will appreciate this benefit. You can fire a robo-advisor any time you want it won’t mind being fired. 
Are robo-advisors good and safe?
Robo-advisors are the best choice for investors with basic portfolios that aren’t overly complicated. They are also beneficial, especially when you are on a budget, as it will offer lower fees than your standard advising services. 
A human financial advisor might be a better fit if you have a sizeable investment, your investment portfolio includes many components, or you are looking for customized, individualized options.