Flesh-and-Blood Advisers Face Threats from Robots
November 3rd, 2014
Via: Reuters:
Fidelity and Charles Schwab will be offering automated financial advice that’s low-cost or even free, pushing other advisers to be tech-savvy to compete.
Last month, both Charles Schwab Corp and Fidelity Investments unveiled so-called “robo” advice programs that offer free or very cheap algorithm-driven portfolio management to investors.
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That strikes fear into the hearts of many financial advisers who typically charge 1% or more of assets under management to offer personalized advice to investors.
