CNBC Asks: Would You Take Financial Advice From An Algorithm?
- Created: Thursday, 23 May 2013 12:17
"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."