CNBC Asks: Would You Take Financial Advice From An Algorithm?

Thursday, May 23, 2013 12:17
edit
CNBC Asks: Would You Take Financial Advice From An Algorithm?

Tags: competitors

CNBC, the popular business and personal finance TV station and website, is covering the growing competition advisors are facing from online advice apps.

This Website Is For Financial Professionals Only


"One industry newsletter has called them 'the most underappreciated threat to the advisory business,' says the CNBC post. "The menace in question is a rash of Web-based investment management tools that aim to replace traditional practices with algorithms. If that weren't threatening enough, the online services often replace advisors' fee structure—typically 1.5 to 2 percent of client assets—with a flat fee."

Comments (0)

Write comment

You must be logged in to post a comment. Please register if you do not have an account yet.

busy