‘Robo-Advice’ is the government and regulator’s vision of the future. The idea is that the great un-advised, those too tight/lazy/genuinely-unable to pay for a live adviser will simply go online and, after a few simple clicks, sort out their pension/savings/financial future. Two (at least) problems. First, only category 1 will bother. Second, like fracking, it will only change the world if someone can make profit out of it. It’s easy to attract punters if you offer them £500 to sign up and the market keeps going up. But you need deep pockets to keep that business model going for more than a year or two.
“Global stock markets fall sharply amid fears over inflation and China slowdown”
Diesel at my local filling station now costs over £7.50 a gallon (kids etc.). Not my problem these days, but I’m sadly old enough to remember the furore in the 1970s when the price went up to 50p a gallon.
