The artificial intelligence technology of the fourth industrial revolution has had a significant influence on industries such as medicine, engineering, and finance. For example, with its low fees and high level of convenience, the artificial intelligence robo-advisor has quickly come to dominate the traditional asset management service market. Several start-up companies and traditional financial companies are entering the robo-advisor market in Korea. However, in contrast to its great success in the United States and Europe, the growth of the domestic robo-advisor market is stagnant owing to environmental and regulatory constraints, such as restrictions on non-face-to-face contracts. In this study, we present the current status and practices of domestic and foreign robo-advisor companies. In addition, based on a comprehensive cost-structure analysis of the robo-advisor market, we suggest ways in which to improve related policies. Although there are many robo-advisor-related business units and start-ups in Korea, current market regulations and inefficient system operation mean that they are not providing marketable services. When a firm with a cost advantage enters the robo-advisor market at the initial stage, the absence of effective government policy can result in an oligopoly of a few companies, thus deterring long-term growth. Therefore, it is necessary that we improve the environment and strengthen the support policy for new entrants with potential. At the same time, we need to induce a competitive system based on technology innovation, rather than on excessive competition that focuses on reducing commission.