Smartly closed down previously. What might happen if the same thing happened to other Robo advisor (SYFE)? Will investor be forced to liquidate our shares?

All robo-advisors have to place customer money and holdings in separate custodian accounts. They can't touch those money and holdings in the event that they go bust.

There are 2 ways the robo-advisors operate with regards to your holdings:

1. Ownership of holdings is in your own name, in which case you have full discretion to decide when to liquidate your holdings. AutoWealth, Endowus are such robo-advisors.

2. Ownership are comingled with other investors, in which case the whole portfolios with the robo-advisor have to be liquidated and your portion of the proceeds will go to you. Smartly was one such robo-advisor, others are kristal.AI, StashAway, Syfe.