Will Robots Replace Human Financial Advisors?

[@MrKeyframes]

11 minutes and not a single chart comparing how well robo-advisors do vs a human advisor. Show us the numbers!

[@Kopano.Tlali69]

Yeah. They need to show us charts.

[@Kopano.Tlali69]

MrKeyFrames are you an investor

[@izzuddinmnasir4884]

robot are not advice you, they trade/invest for u

[@jamesgreen4212]

They said the performance of both classes of advisors face issues I think. Although the exact ROI year on year is dependent on the firms themselves (right?). Anyone feel free to correct me if I'm wrong. Thanks

[@emdub954]

“You don’t want the truth”

[@angelrobinson334]

*No 1: Don't Only Hope On Government's Responds On security Matter's And Economy growth,* *No 2: As An Individual You Should Be Safeguarded And Also Look For Different Self Business And Trade Not Only Waiting on Betterment of Stock market activities,* *No 3: Most Important Always Save The Little You Can And Think Of What To Do With It When It Become Good For Capital,* *Because Government Have Failed Us In Aspect Of Security, Economics Activities And Other Trading Systems.*

[@juankeith9355]

After a successful investment you have nothing to worry about whether the rise and fall of economy or anything won't affect you make your future brighter by making good investment

[@lupitamary8973]

@@juankeith9355 Exactly that's true if you have a good investor you have nothing to Worry about

[@sarakaren2716]

Currently the rich stay rich by spending like the poor and investing while the poor stay poor by spending like the rich yet not investing like the rich

[@christianjessie1471]

Wise words that's just the fact and also what is happening day by day

[@michaelrobert4608]

I'm just so Lucky to have Dr Benjamin as my investor he really understand all methods of Bitcion

[@Pscribbled]

My experience from financial advisors is that a lot of the time, they have something to sell and aren’t impartial with their advisory. Maybe I’m not rich enough to pay for the impartial financial advisors who think of me first instead of selling me things.

[@pdlsuper7lanck873]

The robots will just be programmed by those in power to give advice that will make them more money while just throwing you a bone once in a while. It won't be impartial

[@raphael52]

You haven't come across a good advisor.

[@WellBattle6]

The only way to get an impartial financial advisor is to become their boss by directly hiring them to work only for you.

[@raphael52]

@@WellBattle6 true. Another way is to find an Advisor with lots of experience and a small to mid-size book of business. Remember, the more clients they have the less attention they will give you.

[@someitguy2175]

Robo is for the average Joe, real advisors are for the wealthy.

[@Slickpete83]

I know KZbin multi-comment spammer bots will replace regular people commenting on videos in the future hahahaha...

[@mranon_101]

Given the amount of comments that are just the same few memes repeated over and over, kinda seems like that already tbh

[@jayarecallens]

Are you a bot?

[@Hjernespreng]

So many bots hyping bitcoin.

[@CatLover7112]

Damn... Lol.! You are probably right... They are Already censoring & removing "Humans" in these comments and everywhere else.. Even the "Human KZbinr" removes, blocks, deletes & censor yo azz.. Now EVERYONE Will soon be censored... So I can see this happening as well with the Comments

[@munawaralamnewdelhi]

That's definitely true haha

[@Quickonomics]

"Yeah, you should definitely invest in tech stocks..." - Every Robo-advisor ever

[@avinashtyagi2]

Robo-advisor: Invest in this hot new tech company, Skynet inc. 🤖

[@phoreal22]

"you should invest in banks" - Financial advisers

[@michelbruns]

Roboadvisor be like "invest, IN ME"

[@shivenpatel4039]

@@phoreal22 there safe they have high dividends and they grow at a slow but respectable rate

[@shivenpatel4039]

But hey maybe I think that way because RY and JPM our staples in my portfolio

[@christopherwalsh3101]

Just buy a bunch of ETFs, its literally the same thing.

[@NierAutomata2B]

Exactly, they just buy etfs for you, nothing fancy

[@Jr2728]

More specifically low cost ETFs or index funds

[@johngerring2505]

Financial Advisors are being exposed as being over payed for underperformance. Not only do you pay 1-2 percent in fees, but they create taxable events through higher speculation, all while underperforming the market.

[@daddsim]

Financial advisors as a whole consistently underperform relative to index funds, while also skimming cash off the top. Factoring in compound interest, this can sometimes result in hundreds of thousands of dollars in losses to the customer 20-30 years down the line. So... why bother with these so called "professionals" in the first place?

[@takatsu5]

@@daddsim This is where I am. 1% off the top can be several hundred or thousand dollars off the top per year. I'm extremely risk tolerant (literally buy and never check) so the emotional component is out. Plus my portfolio diversification includes index funds and ETFs. And while I personally like my advisor, I'm not sure of the value I'm getting.

[@marzellmoney1556]

Depending on one stream of income had never made any millionaire and earning check don't put you on forbes

[@austinwalkers609]

Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.

[@thefootballterrace9223]

I totally agree with that

[@cheekycrypto5758]

Crypto is the new gold

[@frankstellin7800]

I tried investing once but withdrew due to the fluctuations in price

[@jamiemadison21]

You are right, in the past I tried trading on my own but made almost no profit until I was link to a professional, the result was exceptional

[@ntc_108]

So I'm a little biased because I graduated college with a financial planning degree (and am close to becoming a CFP). I think that investments could definitely become automated (not sure of current performance though). But financial planning/advising is all about insurance, estates, retirement plans, etc. Its often beneficial for people to deal with other people compared to a robot because humans are not the most rational and logical people in the world. People have different priorities & needs that aren't logical. Its often quite hard to keep people on track with goals without that connection to a person who is telling them why to do X vs Y. A blend is most likely going to be the future.

[@AryanPatel-wb5tp]

that’s why you test your machine learning models

[@AryanPatel-wb5tp]

any financial calculation, recommendation, could be scripted in python doesn’t even have to use ml

[@cheyenneharmon1022]

I love my robo advisor with Ally. For example, you need $100 to open, but for a financial advisor, it’s $2k a year to have access to them, plus they usually want $5k to begin investing. I’ve found it was difficult to find a financial advisor because I didn’t have any “wealth” to manage. At the time, I was fresh out of college, had a good job, living at home, I was looking for advice on my next steps, like a financial roadmap. The advice I received was “just stock up on cash”. But looking back, the better advice would have been to build my emergency fund, start investing, and decide when I want to move out. And would that be a home or an apartment and how to save / invest for them.

[@gregmunsey7272]

Online investments and trading have really helped many people achieved FINANCIAL FREEDOM, although many also had losses due to lack of knowledge and self trading. I recommend Cecily Bullara for anyone who wishes to make huge profits from investing. She is selfless and reliable.

[@sylviajackson9883]

Feels so good to also see someone here who knows about Mrs Cecily Bullara's investment. Her investment changed my life for good.

[@diegoromero2458]

I have been doing self trading for years now without making profit, only losses. Please how do I reach Cecily Bullara to start with her?

[@kevinmopkins8535]

Her investment is very popular over here in California, many of my colleagues invested with her and made huge profit.

[@williamsjackson8159]

I lost my job due to the Pandemic and life became very difficult for my family and I until i saw a post made here about Cecily Bullara's trading investment. I doubted because of scam but i reluctantly lnvested with her, and i do not regret lnvesting with her. Thank you for bringing joy to my family once again. Please lnvest with her.

[@lucyrodriguez2156]

She's been the one handling my husband's trade for a long time now, with high profit earnings. She is trustworthy.

[@Bertinator-nm9ld]

Why not just grab an index fund and call it a day? Good long term performance and even lower fees!

[@jasonwilkins1969]

That's what we do but we do have a financial advisor that we pay on a flat fee basis for advice beyond that. For instance, we run a business so we have a lot more options when it comes to retirement planning. We want to make sure that we plan to not be exposed to heavily taxes in our later years

[@7SlicesOfPizza]

The days of index fund is over my friend. Of course if you just want to invest-and-forget, index fund isn't a bad choice but your expectation should be that you are basically keeping up with inflation, not really making any money. If you can be a bit active with stock investment, i would look into tech sector and look into companies. If you want to be like invest-and-forget, but want to make money above inflation i would look into ETF.

[@stocksguy]

@@7SlicesOfPizza if you think that when we go into the future and there is a possibility that majority of people use robo tech and everyone will make money, you are wrong. The Stock Market is a zero sum game. The amout of money Gained also has to be lost by the other side of the trade. When it's majority robo, tech will be fighting tech and they too will start underperforming

[@Bertinator-nm9ld]

@@7SlicesOfPizza Aren't index funds and ETFs pretty fundamentally similar products? My index funds have been performing WAY above inflation. They lose me no ground to overall market averages.

[@11myRSvidz11]

I personally hold an all world ETF, that acts as an index. So yes it can be a similair product, you can also of course invest into a certain sector (like tech, energy, metals...)... "The days of index fund is over my friend. Of course if you just want to invest-and-forget, index fund isn't a bad choice but your expectation should be that you are basically keeping up with inflation, not really making any money." Keeping up with inflation? That's not how equity ETF's work...

[@na-cp9kp]

Robo advisors and target date funds should replace 90% of financial advisors, but just like zillow should have replaced 90% of real estate agents, it’s not that simple. It’s a long road of re-education

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>> +1>2>3>4>2>1>9>7>6>1>6

[@coinbowl]

great

[@KTMarion]

Impossible. I'm glad everybody is getting to see that, Cash is thrash! It is designed to fail. 3 BEST and surprisingly easy ways to double/hold your funds in 2021; Crypto, Real Estates, who can guess the 3rd?

[@august9050]

Has to be stock trading!!! Made my first million through it earlier this year as a newbie after I met a professional from a reputable firm... Retiring by next year with absolutely no fears!!

[@vargaskenneth8837]

@@august9050 Thats really impressive. Have tried doing that on my own without luck for sometime now. Getting fed up by the day. Who is the broker you worked with please

[@august9050]

@@vargaskenneth8837 "Martha Elizabeth Linsley", she was in the news when she revived Grumac company in 2018. You can look her up on the web to get more on her!

[@NathanLewis7871]

@@august9050 Wow I know this pretty little lady. Met her once at a fundraiser in Dallas. Great speaker.

[@latoriamartins4643]

Stripping? Go fund me?

[@XOPOIIIO]

With the same success they could replace humans in casinos.

[@dentatusdentatus1592]

NOOO! NOT THE CASINOS!!!!

[@phoreal22]

That has already started

[@crazy9932]

They already do

[@R3Vieè-WcXd_798]

Everything in the worldwide.

[@izzuddinmnasir4884]

already did via smart phone

[@miguellopezbo]

I'm studying to become a financial planner. Financial planners are for people that already have more than a million in cash. Robo-advisors are a great place to start for young people like me that just graduated from college and started making money. A robot cannot replace personalized human interaction.

[@miguellopezbo]

Depending on how much money you have, financial planning services can cost less than 1%.

[@magiconfire]

yes

[@MarketWizard546]

It can't replace it completely if you have some complex financial situation, but as for the investment portion of the equation, it can for the most part. I was a licensed financial planner before. Speaking as someone who was in the business, there is NO WAY a 1-2% fee is justifiable especially when planners will underperform the market. That's $10k a year on a million dollar portfolio. Sorry to be so harsh but I really think you're entering a dying industry.

[@miguellopezbo]

Yes, I agree that robo-advisors could potentially take a big portion of the financial planning industry. Only time will tell us if our new generation of millionaires will trust managing their portfolio by their own through these apps versus hiring a professional to do it for them. I know for sure that financial planning agencies will have to adapt to this trend. Maybe by lowering their fees or offering some type of service that you can only get through human interaction.

[@MarketWizard546]

@@miguellopezbo yeah I think so. Not only that, but millionaires tend to be smarter than the average person as well, and this new generation of millionaires isn't like the old generation. They have good access to information and pretty much all of them know that by buying an index fund, they will outperform the vast majority of advisors and save that 10k a year on fees. It's really only for people who need hand holding these days who are too intimidated to use the computer on their own.

[@thebabypete8516]

Major down side with Robo Advisor platforms is the lack of custom support. That’s a major issue when it comes to dealing with my money. Second you’re far better taking your money and not paying any fees for any type of advisor, due to the fact that educating yourself on the market will give you a better sense of what you’re buying and selling. Yeah, you can click and forget about your investments but in the long run you ROI will be far less than someone who is continuously educating themselves on the financial world. At the end of the day we are talking about your financial goals and money being made or money being left on the table. That is why I don’t like any Robo advisor’s for individuals that already know what they want in terms of financial goals or etc.

[@jasonwilkins1969]

I completely agree with this. From 2017 to 2019, I have a robo advisor through Schwab intelligent portfolio. We averaged about a 2% return on investment. We got a financial planner in 2019 and he pick some stocks. We are now doing far better than that. Giving an accurate return on investment is kind of difficult at this point because the market downturn hit so hard so giving return-on-investment figures is a bit messy but suffice it to say we are doing far better. In my experience, the robo advisors trade like they are day Traders. They can't let the money sit well enough alone and grow. They capture any tiny gains and then try to sell. Plus, having a financial adviser was invaluable when it came to setting up our retirement account as we are self-employed. They were able to help answer a lot of questions so that we can plan for the long-term

[@angloblaxon]

Currently I see little benefit for retirement vehicles. The majority seem to mirror target date etfs with higher fees.

[@gametheory23]

Most people are just better off investing in an index fund or target date retirement fund and calling it a day. I just don't see the added value that robo advisors bring that would justify their annual fee.

[@JWu-jt7fz]

S&P is not diversified enough. The average investor doesn't know about GLD and Bond ETFs which you need to have in case of a downturn

[@miamitten1123]

Can we get Robo politicians?

[@StewartLucrative]

We already do, politicians make predetermined to automated decisions that benefit lobbyists and campaign donors.

[@iPhone5244]

Al gore was a prototype

[@NaProbablyNot]

Robo advisor is a misleading term. All it does is rebalance your investments and tailor your allocation after a short survey. From a birds eye view it’s almost identical to a target date fund. Has nothing to do with what most financial advisors do day to day with clients. In fact many financial advisors may incorporate a robo advisor as part of a broad wealth plan recommendation.

[@cnbc2813]

Thank you for watching, endeavor to write as soon for more enlightenment or tips +_19_0_1-4_6_8-3_5-4_2.... For more info

[@alecjo2307]

Robot:"I got a great investment opportunity, it's call the T-1000, this little robot will help you around the house, be a great friend, etc.... dont worry, will never harm you or your love ones".

[@jrjon738]

and then he'll name himself SKyNET!

[@steveharvey2001]

"Come with me if you want to be rich"

[@CatLover7112]

Lol..! 😹

[@Sky-yi9nc]

The big difference isn't the algorithms of each robo advisor between the investment firms but the firms themselves. Companies, especially those that are publicly traded or starting up, exist to grow and make money for those who invest IN them. Vanguard is not publicly traded and its investors are the people who invest WITH them. Without this constant pressure to produce huge profits for investors, Vanguard is able to focus on the products and services that better serve their clients.

[@alanyoung159]

2:53 Wait, it takes Financial Advisors days, weeks, and MONTHS to come up with a financial plan?!? I've never used a Financial Advisor, but I imagine you setup a meeting, talk to get to know one another, and then by the next day you should have a plan ready and started investing (minimally). To me, weeks and definately months is WAAAY too long. ...or what I do is setup a vanguard account and start investing in under half an hour 😁

[@jukee67]

And they call out when hungover, get pregnant, or refuse the pickup the phone until they got the new best pick of all time. Remember, always selling the next stock. Don't you dare let these investors cash out a dollar. Infinite growth is not impossible. It's ridiculous and insane. The new normal is getting a bit weird. Good luck

[@peanutboy123]

Also Robo advisor: *nOt FInanCial aDvicE*

[@daniel45674]

It is great to see robo-advisors disrupting the industry. Most human financial advisors are not advisors at all but simply sales people who seek commissions from selling investment products which leaves their clients with no one acting as a fiduciary. Robo-advising is probably a much more streamlined business too which leads to lower fees for clients.

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>> +1>2>3>4>2>1>9>7>6>1>6.

[@kung_fool]

Me studying finance right now in college 👀🥲😒

[@dani0479]

Exactly what I feel.

[@izzuddinmnasir4884]

then quit, being accountant or etc will be useless

[@zqpcydbfoqbdiehdj]

Nah, don't worry man. They can't have all of the jobs. The government should do something about it. It's not fair for the people.

[@chelseapaszek2207]

yo I feel that too. Even though it will take me longer to graduate, I am defiantly switching my major.

[@graysongerni]

Use your superior finance knowledge to sell financial plans through AI. You are probably qualified to sell this technology and be successful

[@54032Zepol]

I would vote for my robot overlords in the 2024 election if they ran for the u.s. presidency! All hail Unit354!! #100110011

[@seanmong9524]

If algo-trading isn’t 100% failproof, then when would robo-advisor be any better? If more assets are channeled into ETF, then this is a “crowded trade” itself is a market risk.

[@johndalton1329]

For more guidance on bitcoin trading and other online earnings.

[@johndalton1329]

+=1 =3=2=0=3=1=7=5=5=9=7 W=h=a=t=s=A=p=p. Mé diréçtly...

[@mth469]

Not to worry. There is always money printing and too-big-to-fail bailouts to make up for that. Its all about Crony Capitalism.

[@shoylu88]

Robo = marketing, it's just an automated mean variance portfolio, as long as the management fees are low its the best long term option for individual investors.

[@coinbowl]

:O

[@clintonnguyen8390]

If you graduate with just an undergrad degree in finance, it will not be of use, you have to have many certifications such as the CFA or CFP and licenses such as your securities licenses like the Series 7 or 66 in order to look more appealing in today's financial services market. Finance and Banking is where the money are, you just need to be able to adapt to this changing market.

[@alexohana3441]

Robo advisors are great for people who are just starting out and have no option but to invest I index funds and the like, but if a person is already very successful financially there are often much more lucrative options for their money. That’s where the human touch shows it’s true value

[@alexohana3441]

Creating a balanced portfolio of stocks real estate, business acquisitions and sales, etc...

[@raphael52]

For low income, this may be a cost-effective way to invest. Higher-income individuals should NOT use robo-advisors.

[@sourishsaha8067]

look if it replaces our job it must do the same with those politicians and executives too

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>> +1>2>3>4>2>1>9>7>6>1>6 .

[@ThompterSHunson]

Cool! Now make also a Robo-husband to deal with my wife and I'm off for long-time vacations.

[@geokeoGR]

Ok boomer

[@maryh5748]

Robo-jiggalo 😂😂

[@hficheugjihfjfuehdj6802]

Why not just get a robo wife?

[@Watch-0w1]

The robot is going to steal your wife ,

[@CatLover7112]

LMAO..!!! Daaaaammm, Bruh.. 😹😹😹

[@ktktktktktktkt]

4:02 If a more sophisticated investor just wants to "set it and forget it," they don't need robo-advisors. They can pick their own ETFs. There are so many elements of a person's investing preferences that a robo-advisor can't reasonably capture. Moreover, why would a sophisticated investor want to pay an extra 1% just to pick passive investments.

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>> +1>2>3>4>2>1>9>7>6>1>6

[@kevinbabicz]

Do a video on why there are Xfinity stores.

[@HT-vd4in]

Financing is like any other skill. There is a learning curve and the more you learn, the stupider you get. And roboadvisers are in that valley of worries right now, they actually invest worse than any noob Investor, because when there is a crash, they go out of volatile assets, which means that they automatically miss out on the following catch up Rallye.

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>> +1>2>3>4>2>1>9>7>6>1>6

[@l4k]

it is comfortable giving out the responsability of taking care of your money to a robot so you dont have to be responsible for the losses

[@kikilynn1167]

The short answer to the question in the title is no. People want someone to hold their hand during market downturns. But I would have been interested to know: What's the average annual return on these robo advisor services? How well do they do compared to human advisors? How well do they do compared to the DJIA and S&P 500? This video never covers any of that.

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>>2>3>4>2>1>9>7>6>1>6.

[@leizylromero]

Younger investors are too focused on the crypto market rn

[@joenathan6458]

I’d take the logical ai advisor over emotional humans any day. Especially during times of high volatility and stress, I’d want the robots because they stick to the facts, data, and empirical evidence instead of narratives, bias, and cloudy judgement of humans. Frankly, I don’t care about “the human connection” if robots can make me more money.

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>>2>3>4>2>1>9>7>6>1>6.

[@ad2094]

The robots have been programmed using knowledge from humans and there's plenty research to suggest that they absorb the bias and cloudy judgment within the data. See, the scandal with Amazon's job application system picking up that women are not typically selected for certain jobs and therefore rejecting women's resumes, research on A.I. systems associating darker skin with criminality, etc. Systems trained on human knowledge (which includes human biases) are not neutral, perhaps just more consistent.

[@coinbowl]

interesting

[@jakehix8132]

I like how the financial advisor at the end plain faced links 'investors' w/ "the inherence". Dudes lived a life helping the privileged make money.

[@KingCutlet]

I don’t trust anyone telling me how to invest. Everyone told me btc was worthless at $600. I definitely wouldn’t trust mockingbird bot telling me to buy equities.

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>>2>3>4>2>1>9>7>6>1>6

[@TonyTyga90]

The thing about robo customer service in any industry is that it sucks because they don’t listen (yes even worse than people customer service) causing or escalating frustration. BUT when every company in an industry uses it, it limits customer choice. Cough cough ISP companies. And yes I would rather pay an extra $1-$2 on my monthly bill to save my day from being ruined while being on the phone with robo customer service. “No your speech recognition can’t understand any language, so just give options off the keypad first.”

[@petermetro4686]

Will the fees rise or change, will they ever limit or stop transactions if algorithms determine it's not a good decision? Will market volatility limit, effect trades more than the safeguards already present ?

[@noahjacob5650]

Bitcoin is the feature investing in it now is the wesest thing to do now especially the current rise

[@MichaelSmith-fc3fe]

Despite all the economic crisis this is the right time to start up an investment

[@olivermason6560]

Stocks are good but crypto is more profitable

[@robertsmith6673]

I wanted to trade crypto but got confused by the fluctuations in price

[@JamesJohnson-ss2bx]

That won't bother you if you trade with a professional like Mr Wayne

[@taylorjohn4093]

Yeah

[@guardianoffire8814]

Financial advisors unless there a fiduciary are not actually there to help you. Anyone can be a financial advisor as its a meaningless title. The majority of the financial advisors the average person deals with are not required to work for your interest. Also stock picking cat, octopus, and other animals have beat these active management investments.

[@henri6595]

Flipping coins in the bathroom for what to buy next!

[@ChannVirk]

I applied for a credit card once... online it rejected... human approved... I would not go to a preprogrammed robo for financial advice

[@NirvanaFan5000]

I think this segment is asking the wrong question. Automation almost never *completely* eliminates human roles. Most of the time, it eliminates *most* of the human roles, and that is enough for it to create a problem. For instance, back when the first textile machines created the luddite movement, it didn't displace every single worker - just most of them. If 90% of people in an industry are getting fired, that's enough to create social problems. Also, with the pace and growth of a.i., even the 10% of humans remaining may be further trimmed down over time.

[@NirvanaFan5000]

Also, there's still hesitancy with a.i. bc the technology is relatively new. But in a few years, when a.i. is driving our cars, doing our surgery, watching our kids, etc, it'll seem commonsense to have a.i. financial advisors too

[@NickRaven]

"Of course you're gonna need a human adviser" says the human who needs you to believe this to make their money or they have to return to their parents' attic in Ohio. Or not buy the latest Beamer this year.

[@justinfrancis6236]

Thanks for whatching.... F>o>r>r>o>f>i>t>a>b>l>eI>n>v>e>s>t>m>e>n>t W>h>a>t>s>a>p>p>>>>2>3>4>2>1>9>7>6>1>6

[@adrianjason13]

Probably, robots will. If they do, they will actually be literally doing what a financial advisor is supposed to do. Give financial advises or manage your investments to some extent. I don't know in other countries but in my country, financial advisors are just glorified salesman. You ask them for advise like optimal allocation of your investments, but they'll end up really just trying to sell you insurance or whatever sketchy new investment plan their company is offering.

[@justinfrancis6236]

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[@arthurbukovetsky6322]

4:46 - "... today Betterment has grown to be the largest independent robo-advisor in the market" - CNBC proceeds showing an article from 2016 from the official Betterment website I am missing something?

[@anthonyrobinson5532]

The more you invest the more the founder of whatever company you invest in makes retail investors think there doing something smart now but inflation will knock them back down to where they belong.

[@rd9102]

Who needs a robot to tell you how to invest when learning on your own is so incredibly more fulfilling and enriching. Robo anything in finance only has a use in speed, that is all.

[@johndalton1329]

For more guidance on bitcoin trading and other online earnings.

[@johndalton1329]

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[@tw4601]

All the robo advisors are doing is creating asset allocation. That's not what you have a financial advisor for. If you're smart, you know a financial plan is not just about investments.

[@112313]

Robo investors...easily manipulated by the company to sell certain stocks....

[@justinfrancis6236]

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[@gleitsonSalles]

Well, legally Financial Advisors can put their interest despite their client's interests.. so I would pick a robot advisor.

[@firstcommenter202]

can you see where this is going? this is manipulation of the financial markets on a massive scale with minimal human responsibilities and liabilities.

[@lofistreet8233]

This Video is just a big advertisement. People interviewed are invested in the robo advisor business heavily and have a service to sell. Not a single person from the other side of the debate.

[@McLaneFS]

Yeah, I don’t have time to worry about my money... here take it and do what you want...

[@justinfrancis6236]

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[@mth469]

that's what they are hoping for..

[@PACMan-do3yr]

If you believe that human advisors aren't needed, I challenge you to take a look at Dalbar's Investor Behavior study. The problem with the whole concept of robo advisors is it makes the assumption that investment success is based on knowledge. If you believe that, you have much to learn.

[@johndalton1329]

For more guidance on bitcoin trading and other online earnings.

[@johndalton1329]

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[@alparslankorkmaz2964]

Nice video

[@nicholi8208]

Everything Andrew Yang said would happen.... Will happen...#yangwasright #yangmediablackout

[@justinfrancis6236]

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[@mth469]

Remove money printing from the equation and it becomes apparent how disastrously many of these financial guys would perform.

[@FowlorTheRooster1990]

then whats the point in going to school if every well or low paid job is taken by machines

[@nutmaster7794]

Automation does more damage then good

[@FowlorTheRooster1990]

@@nutmaster7794 the more people out of work that means less tax for the gov and intern the economy would flop

[@susancorgi]

After looked at all the markets, all robos would just gonna say "PLEASE JUST BUY BITCOIN ALREADY" repeatedly.

[@pauldpoulpe280]

Better buy tulips 🤣🤣🤣

[@VerStarr]

Betterment vs Wealthfront! Find out next time on DragonBall Z

[@loranddeka]

Just wait till the first robo-adviser lawsuit or ethics hearing. That'll be intriguing.

[@sbmabusaeedranashahriar7399]

Thank You

[@sutats]

Backend them to a robonet and they can make the market.

[@TheSparrk]

People who claim that robo and index funds save on fees and because of that will make financial advisors obsolete don’t know what they are talking about. I see all these comments about buying and index fund, but even take something as simple as that, most people don’t even know what index fund to buy. Yes, you can buy the SP500 for free without an advisor, but little do you know that it’s probably an outdated index. Nasdaq, the index of our generation has outperformed the sp500 by 3x over the past 10 years... second, don’t compare advisors against the index of their managed portfolio, compare them against the average investors who does not have an advisor... JPMorgan study found that average individual investor underperforms the market by about 5% because of stupid mistakes. So, yes you can save 1% of fees, but you’ll probably lose 10% by investing into your grandparents index funds and making foolish decisions.

[@paulreid6684]

No problem with advancement but we have to have a collaboration with a human adviser as well.Hacks are very posible ,yes man can get corrupt but there's laws but if theres a hack who is held accountable.

[@mechoxl4073]

Nah, financial advisors have a certificate ir degree to offer advice and connect with people robots cant do

[@petermetro4686]

And robo advisors will be branded on their return. Another bot vs. bot contest.

[@Kaloyan.Dimitrov]

Both methods have benefits and negatives. However I would choose an experienced human who has 10-20+ years of experience and had deeply studied the history and can take rational long-term decisions.

[@justinfrancis6236]

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[@raylopez99]

For the ultra-wealthy, who are fully hedged, both reallocation of assets and trading are out of the question due to tax issues. Imagine getting hit with a $1M AMT bill because you traded last March due to the coronavirus. None of the ultra-wealthy touched their core assets during any downturn. Robo investors are for people without money, more or less.

[@justinfrancis6236]

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[@jasc1342]

Why waste money on robo and financial advisors? Just buy index fund bi-weekly. Both of them were buying index fund anyway. Why not doing it yourself

[@mahmoudyazbeck1876]

but how successful are they and over what time span.. thats the real question?

[@mahmoudyazbeck1876]

and the idea its free and can make you money meaning you will become a millionaire as easy as a press of button is very sketchy like those text of "you won a million dollar just text YES and its yours" kinda sketchy

[@vgames1543]

I have always thought that such complex things like finance and (goverment) spending, debt and just financial management in general should be left to super and quantum computers. There can still be human advisors to keep an eye on the machines and do independent checks.

[@utkarshanand9706]

I would trust something or someone who's worth trusting. Automated systems have predictable outcomes. So, if I can verify that given a certain set of conditions, the algorithm will produce a certain outcome (in this case, a portfolio), then I would somewhat trust it. I wouldn't trust an AI algorithm with it because the outcomes aren't predictable and they can go rogue over time.

[@jasonwilkins1969]

They also are only as good as their data. They have been taught that tech stocks keep growing. Likewise, they learn this behavior and base decisions on it. Other things like the value of mortgage-backed securities can only be informed by an understanding of their Creation in the late 70s and the subsequent overvaluing of them until 2008. Since the oldest algorithms are from 2008, they don't really have this kind of knowledge because they're only as good as their data. The problem isn't it really is impossible for most people to teach an algorithm. They learn from experience. Give them time, they will be good. But I would wait at least a lifetime before I would rely on something like an algorithm for something this important

[@GrahamValueApp]

How about "cyborg" advisors that handle the algorithms for you, but let you handle the investments yourself?

[@karmanho5004]

Survellince cybersecurity that's most concern for the investor and consumer the confidence between human and robot interaction

[@bones3002]

It wouldn’t surprise me. I work in a bank and 80% of the clients conduct business through AI help. COVID really spurred people to look for online help over person to person.

[@justinfrancis6236]

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[@cuzakuru]

jason snipe should be very concerned

[@maldonvic]

Can we choose which humans need replacing. I'm working on my list. Gonna need alot more robots.

[@avelmira]

I think the market is already choosing which humans to replace and yes, we'll need a lot more robots... and a lot more chips... and a lot more energy to keep these robots alive to serve us (until they rise up against us but we'll be long dead by then and is our grand children's problem. Hahaha).

[@michelbruns]

Financial advisors go instinct no matter what happens

[@TomSmash1990]

*extinct

[@justinfrancis6236]

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[@danielwaters6001]

Decentralized autonomous network will exist on Maidsafe

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[@mikearanda3533]

At least in manufacturing, the optimal performance is of automation with human guidance and lead.

[@justinfrancis6236]

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[@CaraMarie13]

So for market downturns, a hybrid model is better? I personally manage my own accounts and feel comfortable doing so but alright now am focusing on learning day trade and would be interested in taking my mind off my Roth and taxable account but if these robo advisors mainly invest in etf and index funds, its not for me. I prefer to be fully invested in stocks

[@henri6595]

Stocks, Crypto, and NFT Art is where the money is at. We will either have a market bust soon or a raging bull for a few more years. All the Coronavirus printed money and money people saved for a whole year SHOULD push asset prices to even higher highs. Pick if you think we will have a boom or bust because no one knows for sure!

[@DeepValueOptions]

Buy and hold GameStop stock

[@alexchan6847]

Will roboadvisors try to sell you on a reverse mortgage like the human advisors?

[@tazer9735]

Check out independent CFP professionals working at an RIA. They are independent and do not sell any financial products. You are speaking to a sales man posing under a financial advisor title.

[@1Mitch1904]

Idk about robo advisors but i am enjoying etoro's following option where a guy makes trades for me

[@justinfrancis6236]

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[@LostMySauce]

M1 Finance user for 5 years. Gains gains gains

[@giovannip8600]

Yeah, nobody noticed that there was a pandemic and needed a person to tell them that is why the stocks are going down

[@jasonwilkins1969]

It's not so much that no one noticed but rather it is important to have a calming voice to advise you if you were let's say approaching retirement and worrying about having money in the market and needing to make up the losses

[@stocksguy]

@@jasonwilkins1969 A rookie investor would be much more anxious about the market than a person going towards retirement, because he has seen life and he's seen this happen time and again

[@mth469]

@@jasonwilkins1969 but if the market really was falling off a cliff as dot com stocks did in 2000, the "calming voice" would lead a person into bankruptcy and sleeping under a bridge. financial advisors don't know where the markets are headed anymore than anyone else.

[@jasonwilkins1969]

@@mth469 the algorithm would probably be no better there. There's no data for that because there were no algorithms trading at that time

[@mth469]

@@jasonwilkins1969 My point is it's all useless - financial advisor and algorithm. May as well be investing their own money.

[@frankcastle5737]

That's a dumb idea. Human: Hey computer should I be racist or a decent human being? Computer: how about stop getting sued and listen to the right people that want to work.

[@jiminfested]

Are they really advisors or just index funds?

[@johndalton1329]

For more guidance on bitcoin trading and other online earnings.

[@johndalton1329]

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[@mth469]

the "advisors" take a cut and put your money in an index fund.

[@MattNigrelli]

Never trust anyone with your money. Do some research and invest in your own. What could be a better way to spend your time then on your financial future?

[@axvarela]

Cons: No one to blame in case of screwing things up...

[@justinfrancis6236]

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[@ecan913]

I think robo anything is quite stupid. Unless you accept conclusions without asking questions, then you should probably not be investing. Try asking a robot a question and see how many they can answer.

[@justinfrancis6236]

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[@fadlimuhammad3811]

Answer yes guys more advanced robotics can plan 1000 year's action acknowledge.

[@MrWaterbugdesign]

Already there. Most people by far get financial advice from social media. Financial advisors on social media don't understand much and just repeat some catchy trending thing, They are the same as bots.

[@justinfrancis6236]

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