Introducing financial planning and Goal-based investing

This marks the beginning and first touchpoint for our Robo-advisor. In this section, we’ll cover the few questions investors might be greeted with upon opening our Robo-advisor.

As we established in the first chapter, Robo-advisors have evolved from purely risk-based financial planning to include the concept of Goals in Goal-based investing. The latter is purely optional; you can certainly build and run a Robo-advisor without any Goals. Today, most Robo-advisors have adopted Goals because it helps their customers, the investors, structure an investment plan that relates to their own ambitions in life.

Therefore, the most basic version of financial planning on a Robo-advisor is to simply ask how much money you would like to invest. Regulations may differ on the minimum information required to justify an investment, but the following numbers will be required for later steps in the workflow:

• Initial Investment...