Also called managed portfolios, most robo-advisors use an algorithm to match customers with professionally designed portfolios. Some robo-advisors include the option to discuss your investments with a human financial planner, which can put worries over computer-managed investment accounts to rest. Here are seven top reasons why you might pick a robo-advisor to help you save for retirement. You'll answer questions about your age, investment goals, risk tolerance, and other factors that the algorithm needs to pick your ideal investment portfolio. Robo-advisors generally cost less than traditional advisorsMany traditional financial advisors charge based on assets under management.

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Persons: —, Michael Anderson, Charles Schwab, SoFi, Harry Markowitz, Anderson, it's Organizations: Service, Maranatha Financial, Investments