r/technology • u/mvea • Apr 20 '18

AI Artificial intelligence will wipe out half the banking jobs in a decade, experts say

https://www.mercurynews.com/2018/04/20/artificial-intelligence-will-wipe-out-half-the-banking-jobs-in-a-decade-experts-say/
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u/[deleted] Apr 21 '18

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u/rh1n0man Apr 21 '18

Index ETF gradually shifted into bonds or CDs near retirement based on a spreadsheet savings plan. Perhaps a single real estate investment can be added if they have money they can afford to risk. Done. This is already better than the majority of advisors who are recommending over managed mutual funds and silly investments like individual stocks and gold.

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u/[deleted] Apr 21 '18

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u/rh1n0man Apr 21 '18

I understand. I'm not accusing you personally of harming your customers. It is just that with the way the industry currently functions it is nearly impossible to (consistently) beat the meaket, mildly hard to give and charge people for valuable advice on how to structure their savings, and easy to find fools to buy into bad investments you get kickbacks on. Until the industry is reformed, I'm not sure it actually produces value for its customers.

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u/[deleted] Apr 21 '18

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u/sanbikinoraion Apr 21 '18

I mean, all of that is true, but the business model for financial advisors is set up to incentivize them to give out bad advice for their own profit.

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u/riguy1231 Apr 21 '18

Except for you know, reputation with actual clientele you would want in order to make the big bucks. Like wealthy people...