This paper examines the basics of Robo-Advisors, attempts a definition, and lays the necessary groundwork for analyzing both, regulation and contractual relationship between robots-related participants and the attribution of liabilities among them. The objective of this study is to offer a taxonomy of the Robo-Advisory industry and, in order to achieve this aim, we will define a robo-advisor as the algorithm that can provide investment services to an investor. A robo-advisor will involve the participation of following roles, that could be played by the same or different actors: the programmer, the owner, the user and the investor. Considering the relations among these players we will do the taxonomy.

Este artículo analiza las características básicas de los robo-advisors. Se realiza una definición y se establecen las bases para estudiar su regulación y relación contractual entre los diferentes agentes. El objetivo es proporcionar una taxonomía, y para ello se define el concepto de robo-advisor como un algoritmo que puede proporcionar servicios de inversión a un inversor. Aparecen las siguientes figuras: el programador, el propietario, el usuario y el inversor.

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