#financial-advisor — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #financial-advisor, aggregated by home.social.
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"Should you use AI for financial advice?
Andrew Lo, a finance professor at the Massachusetts Institute of Technology’s Sloan School of Management, says not yet. Large language models like Copilot or ChatGPT aren’t suited to being used as financial advisers because they are the digital equivalent of sociopaths—smooth, persuasive and devoid of empathy.
If an adviser powered by artificial intelligence “is able to communicate both good and bad financial advice with the same pleasant and convincing affect, its clients will rightfully view this as a problem,” Lo and one of his graduate students, Jillian Ross, wrote in 2024 in an article for the Harvard Data Science Review. (Today’s robo advisers, like those offered by Betterment and Wealthfront, went into action before the era of large language models and aren’t built on them for the most part, so Lo’s critiques don’t apply to them.)
Still, people are already using AI tools for help with their finances.
This past August, a survey of 11,000 individual investors in 13 countries commissioned by eToro, a trading and investment platform, found that 19% were already using ChatGPT-style AI tools to manage their portfolios, up from 13% in 2024.
(...)
Despite his reservations about current AI models, Lo believes that large language models will eventually be able to help investors—especially people with small accounts and limited experience with investing. In fact, he is working to build one that is specialized for financial advice. He doesn’t plan to charge for it, he says.Lo’s goal is to develop an AI financial adviser that is a true fiduciary—namely, an entity that always puts the client’s interests first and tailors its advice to their particular needs, including emotional needs. He thinks it will take something less than four more years."
https://www.wsj.com/tech/ai/ai-chatbot-financial-advice-mit-2dc76348
#AI #RoboAdvisors #FinancialAdvisor #Chatbots #Sociopathy #FinancialEthics
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Ah, the classic “blame the regulator” routine, as if Lina Khan personally programmed the Roomba to eat our stock portfolios. 🤑 Meanwhile, we're all stuck in an endless loop of enabling JavaScript just to read why our robot vacuum is now a financial advisor. 🤖💸
https://www.thebignewsletter.com/p/how-wall-street-ruined-the-roomba #blameTheRegulator #RoombaInvestments #JavaScriptLoop #financialAdvisor #techHumor #HackerNews #ngated -
The Money Doctor
2024, Crime - 32 minhttps://topdocumentaryfilms.com/money-doctor
This is a #documentary that explores the story of #NeilGallagher, a #financialadvisor who exploited the trust of his mostly #Christian clientele in #FortWorth, #Texas. Gallagher, nicknamed the "#MoneyDoctor," positioned himself as a devout Christian and used #faithbased #marketing to attract and gain the trust of his clients.
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Can anyone recommend a financial advisor in Dublin? Someone you worked with that you liked? #financialadvice #financialadvisor
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Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues - Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Globa... - https://news.bitcoin.com/gemini-forms-creditors-committee-with-houlihan-lokey-to-resolve-genesis-liquidity-issues/ #genesisliquidityissues #houlihanlokeyadvisor #cameronwinklevoss #pausedwithdrawals #financialadvisor #cryptoexchange #geminiexchange #houlihanlokey #restructuring #databaseleak #earnprogram #genesis
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Hi everyone! I’m an investing and financial planning columnist at MarketWatch. I’m interested in all things related to money, which is basically everything. Where are my #CFP #CPA #enrolledagents #taxes #insurance #investing #personalfinance #financialplanning #financialadvisor #economics #money #banking folks to connect with?
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Did some adulting to start moving retirement stuff around. It is a terrifying and harrowing experience when you find out everything relies on paper and security questions.
Glad I have someone to walk me through it and tell me that, yes, this sounds awful but it’s normal.
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American Express taps startup BodesWell for expansion into financial planning - American Express is branching out into financial planning, with a little help from... - http://feedproxy.google.com/~r/Techcrunch/~3/kTophFMlF-A/ #financialadvisor #americanexpress #fundings&exits #venturecapital #startupcompany #recentfunding #brianhalligan #cleocapital #startups #finance #funding #fintech #kintent #planner #startup #boston #money #amex #tc
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Money Minx aims to build a ‘Personal Finance’ OS for the everyday investor - New regulations are making it easier to invest in alternative assets via crowdfund... - http://feedproxy.google.com/~r/Techcrunch/~3/ax6sjZ2cYDs/ #artificialintelligence #entrepreneurship #financialadvisor #cryptocurrency #startupcompany #cryptoeconomy #crowdfunding #moneyminx #startups #sandiego #truebill #finance #fintech #startup #money #apps #saas #tc
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SunCulture wants to turn Africa into the world’s next bread basket, one solar water pump at a time - The world’s food supply must double by the year 2050 to meet the demands from a growing population, ... - http://feedproxy.google.com/~r/Techcrunch/~3/AOiDuhgsZnw/ #alternativeenergy #newyorkuniversity #financialadvisor #renewableenergy #unitednations #unitedstates #agriculture #electricity #solarenergy #co-founder #eastafrica #foodsupply #solarpower #economist #foodwaste #articles
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Road trippers can rejoice as RVshare raises over $100 million to grow its RV rental business - As continentally confined Americans look for domestic vacation options that won’t expose them to too... - http://feedproxy.google.com/~r/Techcrunch/~3/F0RIUq4SvwI/ #recreationalvehicle #financialadvisor #darktrace #outdoorsy #camping #cabana #zwift #tc
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LA gets a big SAAS exit as Fastly nabs the Culver City-based Signal Sciences for $775M - Los Angeles was always more than a one industry town, even when it comes to technology startups, but... - http://feedproxy.google.com/~r/Techcrunch/~3/J_fk_8nKMa8/ #o\\reillyalphatechventures #chiefexecutiveofficer #unionsquareadvisors #financialadvisors #financialadvisor #internetsecurity #qatalystpartners #socialnetworking #leadedgecapital #signalsciences #chaddickerson #harrisonmetal #joshuabixby
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In a sign of digital health’s rise, Livongo and Teladoc Health agree to $18.5 billion merger - In a sign of the growing importance and value of digital healthcare in the world of medicine, two of... - http://feedproxy.google.com/~r/Techcrunch/~3/wUGebSBUZcw/ #chiefexecutiveofficer #digitalhealthcare #financialadvisor #morganstanley #telemedicine #unitedstates #healthcare #technology #telehealth #articles #diabetes #medicare #livongo #health #lazard #chair #tc
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Negotiate for ‘better’ stock in equity-funded acquisitions - Timothy R. Bowers
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Ti... more: http://feedproxy.google.com/~r/Techcrunch/~3/1EcZiChbVlU/ #u.s.securitiesandexchangecommission #mergersandacquisitions #financialadvisor #fundings&exits #venturecapital #preferredstock #stockmarket #startups #column #equity #money #stock -
A16z ushers in new fund strategy with $2.75B - Axios reported this morning that Andreessen Horowitz, the storied venture capital firm with investme... more: http://feedproxy.google.com/~r/Techcrunch/~3/T1AeoYkqP1w/ #andreessenhorowitz #entrepreneurship #financialadvisor #venturecapital #angelastrange #shondarhimes #andreessen #conniechan #katiehaun #buzzfeed #coinbase #advisor #economy #finance #airbnb #money #gps
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Startups Weekly: US companies raised $30B in Q1 2019 - Let’s start this week’s newsletter with some data. Nationally, startups pulled in $30.8 billion in t... more: http://feedproxy.google.com/~r/Techcrunch/~3/0cZ2OrkdVR0/ #financialadvisors #entrepreneurship #financialadvisor #editor-in-chief #meganrosedickey #venturecapital #micheleromanow #startupcompany #privateequity #hoteltonight #kaporcapital #unitedstates #alexwilhelm #co-founder #techcrunch #clearbanc #startups #money