Tradesocio have recently successfully deployed fully functional digital advisories for high profile clients that needed to appeal to millennials as well as other clients who had very specific requirements for their solutions
As AI continues to demonstrate its usefulness, and gains the abilities needed to carry difficult tasks, one area where it has gained prominence is digital advisory.
Digital advisory is an AI based technology that allows software to advise investors of any kind on financial investment decisions.
By learning from the data on previous trades, AI can learn and “reason” on each instance of trade.
The purpose of AI based advisory is not to replace human experience but rather contribute to it. One of the most prominent providers of the aforementioned services is Tradesocio.
In any investment firm, an actual, experienced advisor can run you anything from $100 and all the way up to $1000 per hour.
Using digital advisors is a lot cheaper. Which means that a lot more people can get in on the investment train to financial independence.
Typically, a client to an investment firm has to meet a specific threshold of income and worth to be deemed bankable, with digital advisors, even a single person with $1 can be admitted and start to plan their future for whatever goal they have in mind.
It’s as simple as signing up on a website, and point the software provided at the fields they’re interested in. The advisor will then offer a long, detailed and expansive view on the market, complete with market data and all the tools necessary to compel the user to make an informed investment decision.
The implications of these advancements is that it appeals to a wider spectrum of people to include everyone even if they’re deemed “unbankable”. These individuals can be locked in in investments for as long as 40-50 years making them viable from an investment point of view.
These years of investments are flexible in nature, covering a wide range of goals from health insurance to retirement plans. Any person in their 20s can start to think ahead and plan for their future using investment techniques outlined by the digital advisor.
The other very important feature with digital advisors is automation.
Users no longer have to be present around a computer or even a mobile phone to initiate a trade, sell assets, monitor asset performance. All of that is automatic now.
A user simply sets the digital advisor to purchase, monitor the value and sell when it hits a specific level then move to another asset. This feature is called “Self trading”.
On a larger scale, when done right, a user may elect to log in to his account just once a month to check on their returns and add/withdraw money into their account.
This means that digital advisories are capable of portfolio analyses and acting on the situation as best as could benefit the user in accordance with the “Thematic basket” they chose.