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Posted On: 08/05/2023 9:39:11 PM
Post# of 124507
AI will bring 'carnage' to wealth management, strategist says
https://finance.yahoo.com/news/ai-will-bring-...11137.html
Snippet:
M&A deals in the wealth management industry are on the rise as investors embrace artificial intelligence.
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It's the rise of the robo-money manager: Artificial intelligence stands to bring major disruption to a wealth management industry already locked in a heated competitive battle for fees and inflows.
A new PwC survey of asset managers and institutional investors warns that 1 in 6 asset and wealth management companies will be bought or shut down in the next five years.
"The tech carnage should be significant," Paul Meeks, a portfolio manager at Independent Solutions Wealth Management, told Yahoo Finance about AI’s looming impact on the wealth management industry.
https://finance.yahoo.com/news/ai-will-bring-...11137.html
Snippet:
M&A deals in the wealth management industry are on the rise as investors embrace artificial intelligence.
________________________
It's the rise of the robo-money manager: Artificial intelligence stands to bring major disruption to a wealth management industry already locked in a heated competitive battle for fees and inflows.
A new PwC survey of asset managers and institutional investors warns that 1 in 6 asset and wealth management companies will be bought or shut down in the next five years.
"The tech carnage should be significant," Paul Meeks, a portfolio manager at Independent Solutions Wealth Management, told Yahoo Finance about AI’s looming impact on the wealth management industry.
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