Robo-advisers are not new. Salesmen do behave like robots

Financial advisers have long been using questionnaires to determine your financial needs. People who know their stuff knows this is not the way to do financial planning.

Everyone can fill in a form by asking questions. But not everyone can calculate exposure and risk. Most front line advisers cannot recall (maybe have not learnt) the portfolio risk formula. I haven’t met an insurance / investment salesman that can explain market beta.

So robots can do this job better. After all, you don’t have to meet them face to face. You can answer questions online. Banks save labour costs and charge you lesser fees.