Robo-advisors manage $460 billion, and the robo-advisory industry is expected to grow to $1.2 trillion by 2024.Critics have remained skeptical about whether robo-advisors can entirely replace human advisors.Since launching more than a decade ago, robo-advisors – online investment services that offer financial advice driven by algorithms – have grown into an industry that managed $460 billion in 2020.Some analysts predict robo-advising will become a $1.2 trillion industry by 2024.
"Now, with the advent of robo-advisors, there's a third option, and that's to merge the benefits of professional money management and advice with the convenience of an all-digital application," he said. "I believe that there are things that technology or algorithms can do better than humans can," said Taylor Crane, a robo-advisor customer. "And I have no problem trusting a software to do that.""Clearly, there's always going to be a human element that's missing," said Jason Snipe, chief investment officer at Odyssey Capital Advisors. "My problem always will be the emotional response.
"[Some] investors we see crave validation from a financial advisor," said Concannon. "So for those investors, being able to pick up the phone and have a video conference with a financial advisor, have a discussion about their needs and wants, goes an incredibly long way to providing them the peace of mind that they so desperately need."
What an awful idea. Will be severely manipulated. Even more than now.
I’m sorry what? Most of them are out of business. No one uses them. 400 billion in 14 years of a raging bull market is an epic failure. They don’t even advertise for them anymore. they were free and still no uses them.
I love roboadvisors. Especially ones that help me maximize gains my minimizing fees (all fees, even the hidden ones). Roboadvisors aren’t biased, and they don’t get kickbacks.
Only a person can talk you out of panic selling
I'm staying with my advisor in an active fund who has the same manager for 30 years wit his own money in the game who happens to be my age group.
Amazingly made up tool. Just buy index funds.
Well said. I absolutely love Betterment. It’s not wise to watch your portfolio that often but I love watching the dividends reinvest every months.
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Hopefully this turns out great like crypto.
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This is a tweet from the times ***before the markets implosion. Adjust it or give up.
How ridiculous is that? Humans listening to robots on how to spend their own money, not the robots’ money, but their own. F that. Don’t listen to some robot “expert”, they did not earn your money, you did. You do what you want with YOUR money. 🖕🖕🖕
What’s the point of trading anymore? We’ll completely move on from manual trading and management, then socialism will hit. This will NEVER happen and the industry will never accept it. Good luck LOL!
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Make a robo advisor that doesn’t keep 5% in cash and you will see it shoot up even more.
Unless a crash comes.
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this is terrible news
automated trading that a trader controls beats robo-advisors any trading day of the week.
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'.. it will never replace..'
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I have some money with charlesSchwab Robo since mid April. I’d give it a C +. Haven’t gained much but haven’t lost any either.
kuku27 Quality, speed and efficiency plus absence of human lapses are responsible. You have no complaints, only correction and it continues. It is economical in long run, cost effectiveness, lesser overheads and much lower supervision give to excellent products
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well, if you guys tweeted it there’s probably something f*cked about it
this is terrible news
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Most financial firms would prefer robo advisors to mouth-breathing idiot boomer advisors who are vastly overpaid to sell overpriced financial products.
While catastrophic failure is always possible when dealing with digital systems, the net effect of deploying them has been a very well-ordered market, more efficient and less forgiving of stupidity. While they may or may not replace humans, their presence has been positive.
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wow
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ARE YOU REALLY NOT GOING TO COVER THE THREATS ELON IS GETTING FROM HACKERS FOR HIS TWEETS? ANONYMOUS IS NO JOKE
Ai, just imagine if this was done on the blockchain decentralized...... someone call Fetch_ai HMsheikh4 Mettalex 👀
Flip flop shop yes no maybe with 4th 5th 6th branch... Baby-boomers rev yuppies neutral gen x ext millinials gen z.
wow
$DOGE
and 60,000,000 human beings are allowed to live in poverty
This is very wrong.... 2020 has shown millennial and Gen Z rather blow themselves up
horrible
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