Value considerations, ethical dilemmas, and resolving methods in automated financial advice
Abstract
Financial advice helps consumers to make complex financial decisions. Traditionally, financial advisers have been the main source of this advice. Automated financial advice is an emerging and fast-growing technology that could change how financial advice is provided. However, that would require the resolution of various ethical issues that are associated with this complex technology. With semi-structured with nine experts on automated financial advice, we investigated to what extent automated financial advice can create value for consumers and the financial advice industry, identified the key ethical issues involved with the technology and explored potential methods for resolving these.
Journal
Netspar
