This paper offers cross-sectional and data-intensive insights into Robo-advisory portfolio structures. For this purpose, we scrape portfolio recommendations for 16 German Robo-advisors. Collectively our sample accounts for about 78% of assets in the German Robo-advisory market. We analyze about...

The promise of robo-advisory firms is to provide low cost access to diversified portfolios built in accordance with the academic literature on normative portfolio choice. We investigate the latter claim. How much normative advice does robo-advice contain? For this purpose we web-scrap portfolio...