Generative AI is coming to wealth management in a very big way, says Ritholtz's Josh Brown

[@Qlair2632]

When clients see AI outperform their human counterparts their reluctance may fade..

[@esyjournal]

Wealth Management is more than chucking a few zeros at a Finance Bot and calling it a day. That only works for low income users with a few pennies to invest here and there. People with hundreds of thousands and millions desire a personal relationship with their financial experts. Josh is right about the importance of personality. Future Ai systems over time will be able to do more but replacement is not going to happen with these starter systems, augmentation will.

[@_davidturner]

AI stocks will dominate 2024. Why I prefer NVIDIA is that they are better placed to maintain long term growth potential, and provide a platform for other AI companies. I have made more than 200% ROI from NVIDIA with the assistance of my fa, I won’t fail to mention. I agree the stock would go higher in the next couple of days.

[@FranciszekPawal]

I bought NVIDIA around September last year because my financial advisor recommended it to me. He said the company is selling shovels in a gold rush. It accounted for almost 80% of my market return this year.

[@Javier_Rodri]

That's a great analogy and I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 150percent through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well in terms of travel and liquidity.

[@clintscott3300]

One of my goals is to employ the service of a financial advisor this year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?

[@Javier_Rodri]

I'm hesitant to make recommendations like this onIine,I can't drop contact here, but you could do it yourself & reach her if you so wish, name is Monica Mary StrigIe. Browse.

[@Javier_Rodri]

monicamary,strigle run it up on browser

[@MaraRacks]

Yeah! I'm really struggling to read charts, watched an almost 2 hour tutorial on how to trade options, but I still don't really get it. I really want to learn how to properly do it. I have about $110k set aside to create a good portfolio. I'd appreciate any reliable inputs...

[@paulgries3967]

t's not that hard. The strategies are just rigorous for the regular-Joe but are most successfully carried out by pros who have had a great deal of skillset/knowledge

[@davidcents961]

I was able to remain afloat in the market and build my portfolio to around 65% since January by copying trades from a financial expert. In a matter of months, I was also able to achieve a net profit of over $650K by trading equities and certain ETFs. If you're a novice, you ought to think about exploring that choice. That's always a safer option...

[@davidcents961]

first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money..

[@lindaneisrael2996]

Please could you share more details? Or how can I contact the expert that helped you???

[@davidcents961]

I’m a banker, and my job doesn’t permit me the time to properly analyze my holdings/evaluate stocks myself, so I’ve had a fiduciary "Eleanor Johnston Sorensen" actively restructuring my portfolio to match the present market condition and that’s how I’ve been able to stay afloat, knowing when to buy and sell..

[@Omikoshi78]

It won't replace humans in the near term but there will be 1 human serving 100 clients instead of 10 humans serving the same. 9 will be out of a job.

[@rustinjarrell2717]

People have already found themselves talking on the phone to an AI without knowing it.

[@SimonStormFrigon]

That smile from Josh speaks for itself... he knows lol

[@rikmeistr46]

Charles Schwab’s ‘Themes’ is an example.

[@MD_Wisdom]

This will age well…🤣

[@AlanSmith88888]

All I hear is what AI can do, but NEVER HOW IT can do these things. Sounds like a bloody pipe dream that’s many years away. We can’t even create a software program that allows us to autonomously drive cars safely, let alone anything else more complex.

[@ronsilva7394]

It sounds like the same sort of argument meant to alleviate the fear of the US losing jobs to China and third world countries. How did that work out for US jobs ?

[@danesesse]

Less them 4% unemployment. I mean seriously. America has plenty of jobs. Its the type of jobs you are arguing.

[@billmoyer3254]

robots can read a teleprompter faster than this guy

[@incipidsigninsetup]

If you have generative AI engaged in the personal needs of the individual, then these brokerages aren't needed. Why give 2% to these guys when the information you're receiving in real time to your AI is the same as theirs?

[@Chris-kt3ok]

Absolutely the AI makes the “Advisor” better because AI can do a FAR BETTER job than the advisor. Like someone working at a register tells you the price of your groceries because she scanned all the prices.

[@hangender]

Hopefullu ai improve Cathy and Cramer's trading

[@rh3108]

Josh is steaming mad

[@toddwmac]

Josh's comments are spot on but Scott's comments seemed out of touch. $40m investor needs tax and estate help and the $5m investor does not? Hmmm....

[@christiannoname4755]

Better a good AI robot than a bad physical advisor 😂

[@imacuser101]

Yall aren’t looking at this correct. Anything with predefined rules, are easy to understand and leverage. I am sure there will still be a human element to things but saying so because you have to take into account taxes and more things than just stocks, is a little short sighted. If someone came to a wealthy individual and said we can guarantee the same returns with a lower management fee, all of the same perks and we can tailor your investments directly on your beliefs, I don’t feel people will stay. Even if they do, within a very short time span, maybe 10 years, all that will matter is the face you interact with and there won’t be anyone else at the firm. I just don’t buy a nonseismic shift, I think people are much worse than machines because they cost money, need vacation, complain and will try to leave with your clients. The future is changing fast, it’s best to prepare people for it.

[@zNervouss]

good.

[@jakezog96]

Seems like a clickbait title to me. The gentleman was talking more broadly about AI which can encompass regression models, Reinforcement Learning, and generative AI like ChatGPT and Stable Diffusion. The hype train is pulling into the station again because ChatGPT can do amazing at NLP tasks.

[@kuniouemura]

UiPath (NYSE:PATH), an Artificial Intelligence automation processing software is the future of robotics. Software technology that will make it easy to build, deploy, and manage software robots that emulate human workflow. Based on 16 Wall Street analysts, price forecasts for UiPath Inc. (NYSE:PATH), there’s a high estimate of $30.00, representing a potential +35% increase from the last price of $22.23.

[@Anthony-dj4nd]

Josh about to be out of a job😅

[@syedarmaghanhassan4652]

🚭 🌪What does Josh's Background Picture of New York symbolize? That everybody is smoking weed/Cannabis in NY now? Why would they allow it to be public? It stinks!

[@alexanderricky3811]

No to NVIDIA, NOOOO.... I'm buying cyber security stocks. All of these systems will need that. No Microsoft or META, just AAPL and Alphabet.🎉🎉🎉🎉🎉🎉🎉

[@godzillamothra5983]

the dude is trying hard to explain that he is still relevant at the age of AI, LMAO🤣

[@ericyasunaga641]

Quant tools/subscriptions will soon be available to retail investors. Thus, allowing for personal due diligence against stock recommendations offered by top-shelf financial experts.

[@rps7746]

AI will be like 5G ,to much talk and in two years a new big thing . Ahh where is 5G?????🤔

[@tvm73827]

All over a major city like NYC

[@andersfant4997]

He doesnt know what impact AI will have on society. He might be correct in his prediction for the first year or years. But after that?

[@christinejoybautista6875]

Yes your right because sone people apectex of pandemic..not all person us Rich

[@Shaunmcdonogh-shaunsurfing]

Disagree. Jobs will be replaced. Make no mistake.

[@David-k4p7j]

AI investments, the son of Sam crypto. What can go wrong?

[@wise5674]

Both of them don't know what they're talking about. Harmful to have this drivel on TV

[@esyjournal]

I think Josh makes a good point and is totally right with regards to the exaggerations around replacement. Ai will augment existing experts. It won't turn juniors into a guru, although it could help them DO MORE and learn faster.

[@TheMilkman-k7p]

I think he is right on the money. It will have a positive impact. It won’t replace the edge a human can have when true risk is on the line. You need human intervention time run the programs. I am excited ti be in asset management. Portfolio AI will be interesting to see. The cat is out of the bag so we just need to figure out how to control it, to make it work for us.

[@jakegoldman8281]

Real AI will replace everything. You fools will cry all at the end. What all u guys pushing here with this AI hype. The Pandora Box is open now.

[@hennshue2424]

Josh is a liar