A robo-adviser is a software product that analyses investments and portfolios and will give investment advice based on personal data and objectives. Robo-advisers either work entirely in software or with some minimal human intervention. Robo-advisers will often only work with mutual funds, ETFs such as indexed funds and other financial instruments that have predictable returns. Robo-advisers also often use Monte Carlo Simulation to develop investment recommendations. Because of the automated and zero or minimal human intervention, robo-adviser services are often low or no cost with low or no minimum balance requirements. They provide a low cost and easy way for small investors to get started.