Personal finance confession: AI investing with RoboAdvisor | Jay Judas posted on the topic | LinkedIn (2024)

How many APIs does it take to change a lightbulb.I was chatting with someone last week. Talking about building a new Robo-advisor for them. ‘Surely it is just straight forward. A few screens. Connect to broker and that’s that.’ And in that one sentence lies all the challenges of WealthTech.The idea is simple. It's just a few screens. Connecting to broker is trivial.With this perception many Startups and Financial Institutions set off on the Robo-advisor adventure only to find it is harder than they thought. And they actually have no real idea of what they are building or all the things needed to make it work.They get six months in and realise they don’t have the right ‘RSP API’. Or they didn’t have the events calendar API configured correctly. Or the retirement goal calculator doesn’t adapt dynamically. If you don’t know what any of these are you should not build a Robo yourself. Think of it like a car. You don’t need to know how it works to drive it. And I’ll assume you would not set out to build one yourself. (If you could, more props to you). The car feels very simple. Get in. Press the go pedal. It goes. The stop pedal does its thing.That’s that. Under the hood is a phrase for a reason. What's under the hood of WealthTech. A lot.A robo lets you invest. The go pedal. Or stop investing. The stop pedal.Under the hood are API’s. Each of them does its thing. Pain staking epic elf work to make the stop and go pedal do their thing.So next time you are using a Robo-advisor. And it's seamless and easy to use. Have a think how many API’s it takes to make it work. And marvel at the magic.Wealth is digital. And long may it get better.* This is from my WealthTech Wednesday newsletter that goes to 10,000 subscribers every week. If you would like to join DM me or go to Bambu dot com to sign up.

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Automation is the simplest—and perhaps most powerful—move you can make towards retiring wealthy.Imagine if you could automate going to the gym. You download an app, tap a few buttons, and then... do nothing. Over the next few weeks, you notice changes. Your legs get firmer. Your biceps bulk up. You walk past mirrors and think "darn, I look good!" Friends ask if you've been going to the gym. You smile, because you know the truth—you haven't been once.It sounds too good to be true. But when it comes to building wealth, it's a reality.That's right—you can automate building wealth. And it only takes a few moments.Simply Google search how to automate deposits in your wealth building accounts, and follow the steps. It should take you less than a minute once you know how it's done.And just like that, you've started building wealth. Money will effortlessly flow from your bank account into your wealth building accounts. It's that easy.Read my full article to learn more!

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Automation is the simplest—and perhaps most powerful—move you can make towards retiring wealthy.Imagine if you could automate going to the gym. You download an app, tap a few buttons, and then... do nothing. Over the next few weeks, you notice changes. Your legs get firmer. Your biceps bulk up. You walk past mirrors and think "darn, I look good!" Friends ask if you've been going to the gym. You smile, because you know the truth—you haven't been once.It sounds too good to be true. But when it comes to building wealth, it's a reality.That's right—you can automate building wealth. And it only takes a few moments.Simply Google search how to automate deposits in your wealth building accounts, and follow the steps. It should take you less than a minute once you know how it's done.And just like that, you've started building wealth. Money will effortlessly flow from your bank account into your wealth building accounts. It's that easy.Read my full article to learn more!

Everyone loves a bargain. My mom always said "free" was her favorite price. As a kid, that makes sense but is free really good for us?Dan Ariely, in Predictably Irrational, wrote about experiments testing the idea that we make suboptimal decisions when facing the prospect of getting something for free. He looked at chocolate but I want to look at brokerage services.About a decade ago Robinhood was launched offering free trading. A few years later they gained traction causing a ripple through the big brokers like Schwab and Fidelity who reduced their trading fees to zero. Now, I'm not going to argue that paying trading fees is a good thing. However, like free checking accounts at your regional bank, something has to give. These companies are not providing services to the general public for free. They have costs that must be covered and a profit margin to hit. Instead of a transparent fee that is controllable by the investor (how frequently they trade), now there are "hidden" fees in bid-ask spreads, larger interest spreads on deposits and sweep accounts, etc.Additionally, free trading commissions entice people to trade more frequently, which is often detrimental to a portfolio's health. Fidelity Investments analyzed client accounts and found that "the investor accounts that were completely forgotten about by their account holders ended up with the best performance."Beware of free.https://lnkd.in/giYh6vdk

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Investing in the markets is not my full-time job, but I really like it as a hobby. The problem is the best resources like Bloomberg and CapIQ cost tens of thousands of dollars per year (EACH!). Over the last few years, I've tried to find a good alternative that isn't nearly as expensive as Bloomberg or CapIQ. Today, I feel confident saying that I have. It's a combination of 3 apps, and the best part is they all offer a FREE tier (I pay $0 right now). Here's an overview of the apps and how I use them:https://lnkd.in/gYz29sNgCC: TIKR.com Quartr Finviz

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For years, I've been crafting spreadsheets to split group expenses among friends, predating apps like #Splitwise. But optimizing IOU transactions to "settle the bill" was always a missing piece... Now, thanks to #CoPilot, I generated code to streamline individual payments as well. Works like a charm! Motivation: the 4 expense/day limit in Splitwise's free version and the reluctance to burden everyone with yet another app like #TriCount. 🙂 Sharing a link to #googlesheets seems more practical and expense entry is easier.V2 also supports fractional sharing ("kids' tickets are half price"), and can be easily enhanced to handle many expenses and payers. V3 will include multiple payers for the same expense. Comment if you're interested in a link or more info. Happy to share and learn. #genai (image below is for payments across 9 uneven groups with 25 unequal members)

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How to set up a Custom Automation in Monday that will push a date in a Date Column by a certain number of days https://lnkd.in/d2YbB35g

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Problematic: Robo advisor, who is?Also sometimes spelled as Robo advisor,is a digital plat form that provides automated, algorithm -driven financial planning and investment services with little to no human supervision. A typical robo-advisor asks questions about your financial situation and future goals through and online survey.It then uses the data to offer advice and automatically invest for you. Other common designation for Robo-advisor include "automated investment advisor","automated investment management"and "digital advice plat forms". The best robo advisor offer easy account setup, robust goal planning, account services, and port folio management. Additionally, they offer security features, comprehensive education and law fees.the Best Robo-advisors of August 2023: SoFi, Wealth front, betterment, axos invest , Fidelity, Glands acorns EVELLEVEST, Titan.#thechnology # robo advisor.

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Ace your Investments with Super #SuperIsHere# Angel One Ease your Investments with the Great Interface in Application.

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Are Robo-Advisors going to take over the Wealth Management Service Industry❓ This is a topic of great debate and concern for Financial Advisors & Wealth Managers Well...in my view this is the classic 'Man Vs. Machine ' debate that is now very 'normal' in virtually every industry, not just Financial Services.. Here are some interesting stats .. ►Google Search for 'Robo-Advisors' (done today) gave: About 2,510,000 results (0.39 seconds) ►About 100 Robo-Advisors (online services sites) in 15 countries ►Forecast of $2.2 to $3.7 Trillion Asset Under Management (AuM) by 2021 & whooping $16 Trillion by 2025 ...WOW.. So the big question is what does this mean for 'Financial Advisors & Wealth Managers'? Is it an opportunity & Threat..? Yes...the answer will depend on 'YOU' Any Advancement in the world such as Tech innovation, really brings the FOCUS on 'Value' and clears up the clutter.. ✓ For Low Value Advisor = This is Death ✓ For High Value Advisor = This is Massive Opportunity Hope this helps.. visit www.advisorlearn.com for more info and help. #fintello #advisorlearn #advisoralgorithm #investing #moneymanagement #financialplanning #financialgoals #returnoninvestment #fiduciary #retirementsavings #retirementplanning #highnetworthindividuals #millennials #valueinvesting #wealthmanagement #robotics #robohelp

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