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Michael Kitces – The Past, Present & Future of Financial Advice - [Invest Like the Best, EP.122]
Invest Like the Best with Patrick O'Shaughnessy
Introduction
patrick o'shaughnessy: We've essentially gone through three stages of the business of financial advice, and we're on the cusp of the fourth right now. In 19 75, a start-up firm in northern california decided to use these new fangled things that were coming out called computers to see if they could scale stockbrokering better than the human stockbrokers. And the computers won. Now i would argue this was ultimately a higher proposition for consumers at least compared to what it used to be.
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