Due to over regulation in the Financial Planning Sector most CFP (Certified Financial Planners) cannot afford to take clients who have less than $500,000 in net worth. This now leaves a huge gap in the market and means most in the Middle Class are left in the cold. To fill this gap financial firms have developed RoboAdvisors which uses artificial intelligence to help people determine how best to invest their money and develop their financial retirement portfolio based on their income, risk aversion, lifestyle, and time until retirement. On the surface this sounds like a sound solution, but it’s not without its own set of challenges – one of which I’d like to discuss here today.
