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The robo revolution

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OW Tai Zhi, co-founder and chief investment officer of AutoWealth, was working for a family office in 2013 when a friend walked in, plonked a S$200,000 cheque on his table, and asked him to invest his money. "I'd been helping rich people get richer," Mr Ow says. "A lot of friends and family around me kept saying: 'Help us, we are the people who deserve more help'." Out of that formative experience grew the realisation that perhaps there was something revolutionary he could bring to the asset management table. There was already a high level of frustration directed against capitalism's standard-bearers: the fund managers who invest our money in unit trusts, the banks and insurers who take a hefty cut for distributing these products, and the wealth advisers who require high minimums. The solution, for forward-thinkers like Mr Ow, was software.


OCBC test-drives robo-advisory service

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They were largely unheard of a few years ago, but robo-advisers are on the rise in the financial services industry, with OCBC Bank entering the fray. The lender on Saturday started a trial of an online platform that will use computers to offer portfolio management advice. The pilot is aimed at accredited investors - those with net personal assets of more than $2 million. It will eventually be open to all investors. Mr Aditya Gupta, OCBC's head of e-business for Singapore, said a fixed timeline for the pilot has yet to be determined.


AI disruption: Is robo-advisory a threat to financial planners?

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The fintech industry has been revolutionizing the sector in the past few years, with disruptive technologies such as machine learning, artificial intelligence, social data intelligence and blockchain, which are proving to be enablers in solving critical business problems. According to fintech experts, robos are already doing 75 percent of the distributor's job. For instance, these automated advisers ask you your age and a few questions about risk, goals and your time horizon. Then the platform runs your choices through their algorithms. Next, you are assigned a risk level ranging from conservative to aggressive.


Artificial intelligence and Big Data to manage your wealth: robo-advisers

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Managing and, preferably, optimizing your full financial portfolio, an investment portfolio, a pension plan and so on is traditionally a human task. It is done by various possible people such as investment managers, wealth managers, financial advisers and even accountants. Since just a few years a range of new fintechs hit the market with so-called robo-advisers or automated financial advice tools. They have been popping up (and keep popping up) in no time and some already even dissapeared. Automated financial advice and optimization is a hot and diverse market with the launch of several platforms, digital and/or mobile in a really short timeframe.


Artificial intelligence and Big Data to manage your wealth: robo-advisers

#artificialintelligence

Managing and, preferably, optimizing your full financial portfolio, an investment portfolio, a pension plan and so on is traditionally a human task. It is done by various possible people such as investment managers, wealth managers, financial advisers and even accountants. Since just a few years a range of new fintechs hit the market with so-called robo-advisers or automated financial advice tools. They have been popping up (and keep popping up) in no time and some already even dissapeared. Automated financial advice and optimization is a hot and diverse market with the launch of several platforms, digital and/or mobile in a really short timeframe.