FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.
IBM wants to predict your financial future (InvestmentNews)
IBM recently created Client Insights for Wealth Management, a dashboard where advisers at large institutions are provided suggestions based on sophisticated software analysis of market news and clients’ online behaviour.
And now, Alessandra Malito reports that by the end of June, IBM “plans to release its cloud offering along with additional features such as a wider range of life-event detection from social media accounts and emails along with client profiling — where ‘needs,’ ‘traits’ and ‘values’ are assigned to clients.”
“This is the whole notion of a machine tapping you on a shoulder and telling you ‘here is what you should consider,'” Manoj Saxena, chairman of Cognitive Scale, a cognitive computing company, told InvestmentNews.
Relax, the risk of a recession is “objectively low” (Charles Schwab)
“We believe the economy is not heading into a recession, but is also not likely to exit from its muddle-through state in which it’s been during this expansion,” argued Liz Ann Sonders. “The risk of recession is objectively low.”
“Yes, corporate profits are in their own recession — courtesy of the (prior) strength in the dollar and the (prior) plunge in oil and other commodity prices — but reversals in both potentially bode well for future earnings. We’re keeping the faith.”
John Afriyie, an analyst for a New York City investment firm, was charged with allegedly reaping more than $1.5 million “through trades he made in his mother’s brokerage account based on nonpublic information he learned at work,” the SEC announced on Thursday.
Here’s a look at the history of credit cards (Business Insider)
Building credit goes all the way back to the late 19th century when stores began offering credit to their best and most trustworthy customers, according to Visual Capitalist’s Jeff Desjardins.
“Instead of paying each time they visited the shop, a regular could defer payments to the future by using store-issued metal coins or plates that had their account number engraved,” writes Desjardins. “Shops would record the purchase details, and add the cost of the item bought to the customer’s balance owed.”
LPL Financial is going to use BlackRock’s robo-advisor (FA Magazine)
LPL Financial announced on Wednesday that it will use BlackRock Solution’s FutureAdvisor, reports Christopher Robbins. The firm added that the move will allow advisors and institutions to “grow and expand into new markets.”