How do I set up a robo-advisor account?

Gather these before you begin the robo-advisor setup:

• Government-issued ID – passport, driver’s license, or national ID for identity verification.
• Social Security number (or equivalent) – required for account opening and tax reporting.
• Bank account details – routing and account numbers to fund your account.
• Employment and income information – helps the robo-advisor recommend a suitable contribution level.
• Investment goal clarity – whether you’re saving for retirement, a home, or another milestone.
• A rough idea of your comfort with market swings – the risk tolerance assessment will refine this.

Our conversational onboarding transforms a multi-page form into a simple chat. At each stage the assistant asks just what’s needed, then uses custom actions to pre-fill fields and submit information on your behalf.

1. Start the setup – answer a few questions about your age, financial situation, and what you want your money to do.
2. Set investment goals – pick your primary goal and target timeline; the system instantly translates that into a suggested asset mix.
3. Complete the risk tolerance questionnaire – a short series of questions about how you’d react to market ups and downs. A custom action scores your answers and recommends a portfolio aligned with your risk level.
4. Verify your identity – upload your ID and take a quick selfie if required; the process is embedded in the chat.
5. Open the account – review your profile, agree to terms, and the account is created. All steps happen inline without leaving the conversation.

After your account is open, the next step is connecting a funding source. You can do this through a simple custom action that securely links your checking or savings account.

• Select “Link a bank account” from the chat menu.
• Enter your bank’s routing and account numbers when prompted.
• The robo-advisor will typically make two micro-deposits for verification – our custom action can track that and notify you when to confirm the amounts, so you never miss a step.

Once linked, you can make a one-time deposit to activate your portfolio.

Automatic transfers keep your investment plan on track without manual effort. After your bank account has been verified, you can schedule recurring deposits directly through the chat.

• Tell the assistant you want to automate contributions.
• A custom action will ask for the amount, frequency (weekly, biweekly, monthly), and start date.
• The system confirms your settings and initiates the recurring transfer.

You can pause, adjust, or stop automatic contributions at any time using the same conversational flow.

What information do I need to open a robo-advisor account? You’ll typically need a government-issued photo ID, your Social Security or national identification number, bank account details, employment and income information, and a sense of your investment goals and risk tolerance. The exact requirements vary by provider but are captured smoothly during Chatref-powered onboarding.

How do I link my bank account to a robo-advisor? From the chat, choose the bank-linking option. A custom action will guide you through entering your routing and account numbers. The robo-advisor will then verify the account (often with micro-deposits) and you can confirm those amounts inside the chat to complete the link.

Can I set up automatic contributions with a robo-advisor? Yes. After your bank account is linked, you can use a custom action to select a recurring amount, frequency, and start date. The robo-advisor handles the rest, transferring money from your bank to your investment portfolio on schedule.