While many in the financial industry used to believe that the robo-adviser phenomenon was mostly a fad, these days, people are entrusting an increasing amount of money to these algorithmically-based financial solutions. "When we have done focus groups or surveys, I've been surprised by the demographic breadth of these products' appeal," said Andrew Edwards, a Bain & Company partner. "The stereotype is that the user-base is going to skew young, and as a consequence, it's going to skew lower wealth. That's the hypothesis I came in with when I first started working in this space. But it's amazing the degree to which older consumers are receptive to robo-solutions."