Robo-advisors are automated platforms that provide financial planning and investment management services with minimal human intervention. They use algorithms to assess an individual's financial situation and goals, creating a personalized investment portfolio. Typically, users answer a series of questions about their risk tolerance, investment timeline, and financial objectives, which helps the robo-advisor tailor its recommendations. These services often charge lower fees compared to traditional financial advisors, making them accessible to a broader audience. Robo-advisors usually invest in a diversified mix of exchange-traded funds (ETFs) and other assets, automatically rebalancing portfolios as market conditions change to maintain the desired investment strategy.