Robo-advisors, which feature relatively low fees and an investing-on-autopilot approach, have so far been expanding. (Photo: AP)

(Bloomberg) — How big a threat are the new batch of robo-advisors to traditional active fund managers?

Are they, as Sanford C. Bernstein & Co LLC put it in a new research note, an “innocuous robot like R2-D2 or are they Terminator?”

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