As far as I know, currently there isn’t a platform that has incorporated AI into their advisory platform. However, due to the focus on integrating behavioral finance into these computer- assisted service offerings, programs that could learn more about clients and provide more customized solutions would be valuable, so I can see advancements in AI being implemented at some point in the near future.

There is a multitude of people that are in need of investment advice. There is also a segment of the population that doesn’t want to be educated about finance and investing above a level where they can protect themselves against fraud and other threats. There will always be a demand for advisory services from people that need hand holding, that do not have confidence in their own investing capabilities, or that simply want some confirmation supporting their investment decisions. Considering the amount of people that do not have access but want advice, the best of these low-cost providers of advisory services should be able to develop a sustainable business model.

As far as providing a different strategy or portfolio composition for the same risk profile and goals, this also takes place when humans provide advice, and is not a weakness specific to computer-assisted platforms. I see a greater threat to these platforms coming from traditional advisors that adopt these advisory models to broaden their client base, than from individuals becoming better educated and not needing someone to be between them and their ETFs.

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