when the work involves navigating a bunch of rules with very ambiguous syntax, AI will automate them to the point computers automated rules based systems with very precise syntax in the 1990s

https://hazel.ai/tax-planning

this software (which i am not related to or promoting) is better at investment planning and tax planning than over 90% of RIAs in the US. It will automate RIA to the point that trading software automated stock broking. This will reduce the average RIA fee from 1% per year to 0.20% or even 0.10% per year just like mutual fund fees dropped in the early 00s

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arctic-true 8 hours ago | parent [-]

You could have beaten the returns of most financial professionals over the last several years by just parking your money in the S&P 500, and yet plenty of people are still making a lucrative career out of underperforming it. In some fields, “being better and cheaper” does not always spell victory.

	▲	DaedalusII 8 hours ago \| parent [-]
		you are right on beating money managers. when I said investment planning, I meant planning the size and tax structures for investments. this software automates all of the technical work that goes on inside financial planning firms, which is done by tens of thousands of white collar professionals in US/UK/EU, et c. it will then lead to price competitiveness. more expensive silly companies will exist, but the cheap ones get the scale. SP500 index funds have over 1 trillion in the top 3 providers. cathy wood has like 6-7 billion. BNYMellon is the custodian of $50 trillion of investment assets. robinhood has $324bn. silly companies get the headlines though