Robo-advice News Wrap: People will defeat robots - Gundlach

By David Tuckwell on Monday 26 June 2017

Savings and Investment

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Billionaire bond fund manager Jeffrey Gundlach has risen to the defence of human wealth advisors in an interview with Bloomberg. While admitting robo-advice had advantages, he said it promoted a “one size fits all approach” which compounded systemic risk. Asked how human advisors could win, he said “hard work”.

Robo-advice has gone from zero to US$100 billion assets under management in five years, said an expert panel at the TSAM Buy-Side conference on Friday. As robo evolves it will diversify away from ETFs and the debate between robo versus personal advisory will be retired, panelists said.

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