The Future of Automatic FInancial Planning
What is Automated Financial Planning?
Automated financial planning and implementation is a way to solve the problems of personal financial planning and even retail financial planning by consolidating financial information, automating important tasks, doing away with the unincentivized middleman, and allowing financial decisions to be both flexible in the moment and also focused on long-term financial goals. Automated financial planning software can automate tasks to easily eliminate basic financial planning problems. This would include finding places where unnecessary taxes can be cut or automatically sending larger payments to debts that have higher interest rates. It also makes sure that no payments fall through the cracks in that situation, and also would recommend cheaper insurance policies or other ways of saving money.
What Can Automated Financial Planning Do?
In addition to the items listed above, automated financial planning and implementation would increase returns on assets and maximize savings and investment contributions so as to grow net worth. It would also be working actively in real time to protect both current and retirement accounts and insurance. Since it is automated, it would not require a client to have any advanced knowledge of financial markets and situations in order to improve their net worth, and they would not have to be involved in the planning process.
Can Automation Involve ICO and Cryptocurrencies?
These can also be automated, as the software facilities initial coin offerings (ICOs), invests in cryptocurrencies and ICOs, and implements and governs smart contracts. Blockchain technology would also allow for automatic investments and trading, and even seamless lending.
What Problems Can Automated Financial Planning Solve?
One of the biggest is lack of incentive and goals that are mutually at odds. Currently, financial advisors come up with a plan based on an analysis of a client’s finances, and their goal is to sell that plan to the client. Once the investments or insurance are sold, they have reached their goal. The client does not have a firm grasp of how things work, and the advisor has no more incentive to help them. Assets and finances remain fragmented across platforms and financial agencies, and movement in response to the market can be slow and difficult. Automated financial planning would solve issues of disorganization, lack of information, lack of flexibility, and conflict of interest.
Automation has the potential to vastly improve and perfect financial planning so that long-term financial growth can be achieved and assets can be protected automatically. It can solve the biggest shortcomings of modern financial planning methods while implementing the newest blockchain technologies and taking advantage of ICOs and other investment opportunities.
Trackback from your site.