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David Stein's Robo-Advisor Experiment
- David Stein explored robo-advisors and built a Mechanical Turk-like service.
- He quickly abandoned it, realizing he didn't want the responsibility of managing others' retirement portfolios.
Robo-Advisors: A Disruptive Innovation
- Robo-advisors target underserved young investors, a market traditional advisors ignore.
- This disruptive model, offering "good enough" solutions, improves and adds features over time.
Robo-Advisor Recommendations Vary Widely
- David Stein tested four robo-advisors with his own data and found widely varying recommendations.
- The allocations differed significantly in stock/bond ratios and specific asset classes.