Technological advancements rapidly increase the scope of automatable tasks and decisions. As a result, new IT system types emerge that can digitalize previously human conduct. One application area of increasing automation is the financial services industry with the emergence of financial technologies (FinTech) such as digital investment management systems, commonly referred to as robo-advisors. Such systems render the potential to decrease the costs of investment management, making it more accessible, and, if done right, increase performance by avoiding human biases. The realization of these...