Example:
Isabelle wants to start an ISA but isn't confident about picking her own shares or funds and can't afford the advice fee charged by a financial adviser or the £1,000 minimum investment needed.
Instead, she searches online for a regulated robo advisor where she can set up an account in minutes. Rather than having to wait for an appointment with a financial adviser during working hours, she can complete a risk questionnaire in the evening to determine her investing attitude and the most appropriate portfolio for her money.
She can then start investing from as little as £100 and leave the concerns about rebalancing and monitoring the markets to the robots.
Isabelle is still able to log in and view her portfolio performance and can make withdrawals or invest more from her smartphone or computer as and when she chooses.
* This is a fictional, but realistic, example.