In almost every case, discount brokers are self-directed accounts. You call all the shots when it comes to picking and choosing your investments. A robo-advisor takes that burden off your shoulders entirely: The app asks you choose an investment strategy or a portfolio type, and the app’s trading algorithm automatically allocates and manages your investments. You sacrifice the control and freedom you get with a discount broker, in exchange for the “set it and forget it” approach offered by a robo-advisor. Which is better depends on your needs.