With financial advisors charging hundreds by the hour for investment recommendations, a new, low-cost alternative has been invented. Robo-advising is here to replace traditional wealth management services. Big brands are looking to invest in robo-advising, an automated investment advisor based on algorithms. Robo-advising spans over a wide spectrum, from robo-advice, which pulls information on lifestyle, goals, risk profile and savings to recommend investments, to robo-investing, which refers to cases where algorithms select and a portfolio for the person. The sector for robo-advising and robo-investing is predicted to increase by 68% annually, which adds up to a whopping $2.2 trillion globally by 2020.