Treasury to examine whether ‘robo-advice’,which tailors products to consumers, can acquire aid cheaper and more accessibleFace-to-face advice on financial matters could be replaced by “robo-advice” under a consultation to be launched by the Treasury this week. The consultation, and part of a review of the financial advice business,is looking at ways of making this complex area more affordable for consumers and the ways in which technology could be involved.
Robo-advice is a term used to picture computer algorithms that provide advice on financial products, which the government is suggesting could be a way to acquire financial advice more widely available.
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Source: theguardian.com