Digital Transformation and disruption in the finance world ...
Today I have been to a stock investment day together with my wife. The setup was like a trade fair with different exhibition stands of banks and investment companies, plus some presentations about interesting topics. One of the main themes was Robo-Advisors - "A robo-advisor is an online, automated portfolio management service. Because these companies use computer algorithms — a set of rules to choose appropriate investments based on your risk tolerance and time horizon — they can offer robo-advisor services for a fraction of the cost of a human financial advisor." see https://www.nerdwallet.com/blog/investing/best-robo-advisors/ as one of several examples.
In the mindset of digital transformation the initial idea was to automate standard investment processes with algorithms and to get human emotions out of the equation. In the meantime a Cyborg approach seems to be a better solution - "The so-called cyborg or hybrid model refers to a financial advice platform that pairs algorithm based financial planning with components of human interaction." see http://www.businessinsider.de/cyborgs-are-the-future-of-financial-advice-2017-2?r=US&IR=T for more details.
The trend towards Cyborgs was the general opinion during the presentations today as well. Either to have a final check/control point before a problematic order gets triggered or to get the support of well known stock market gurus for advertisement purposes. In both cases in the best interest of the customers 😉.
To close for today, you guys managed to reach a new weekly reader record, 1,111 this time. Really great, thanks a lot 👍.
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