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Are Robots Coming To Take Investor Jobs on Wall Street? (nypost.com)

Posted by msmash on from the they-are-coming dept.

From an article on NYPost: More investors are warming to the cold, steely embrace of the increasingly sophisticated, low-cost automated robo-advisers. The primary reason is to save money on those fees and charges. Nearly one in three investors says these machines are superior at picking stocks and lessen their risk, and almost as many say the machines are better at selecting investments for retirement than human brokers, according to a new study of US investors by market research and consulting firm Spectrem Group.

3 of 142 comments (clear)

  1. Re:They already use algorithms to make decisions by fustakrakich · · Score: 5, Insightful

    What happens when everyone has an algorithm?

    Flash crash

    --
    “He’s not deformed, he’s just drunk!”
  2. Mwahahahhaha by Anonymous Coward · · Score: 5, Insightful

    Wallstreet wants so desperately to increase the number of coders to make cheap labor. It is hilarious when coders fight back by diminishing the value of business people.

  3. ethics by rijrunner · · Score: 5, Insightful

    Given that the Trump administration is wanting to repeal of the Department of Labor's Fiduciary Rule and Section 1033 of Dodd Frank...

    That is the rule where your financial advisor needs to act in the investor's best interests as well as disclose any conflict of interests.

    A robot might be a much better option going forward..