Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate.
Duties include assessing clients’ assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients (ILO, 2018)



Finance Professionals

Finance professionals plan, develop, organize, administer, invest, manage and conduct quantitative analyses of either financial accounting systems or funds for individuals, establishments and public or private institutions (ILO, 2018)

  • Accountants
  • Financial and Investment Advisers
  • Financial Analysts
  • Estate Planner;
  • Individual Pension Adviser;
  • Personal Investment Adviser

Background Information

Technologies such as Machine Learning and Artificial Intelligence are altering how the financial market works. In particular, the Personal Financial Advisors are impacted by robot advisors. These robots are able to collect and analyse a vast amount of financial information, providing more effective investment guidance than human advisors (Market Watch , 2017). The percentage of replacement of workers being within 50% may be related to the human need of contact and empathy as the basis for establishing trust relationships. However, when it comes to data analysis, robots can provide a complete and reliable analysis as they implement very efficient algorithms and are able to process a large number of web information of the financial market (The Australian, 2017). 

The institutions that have these advisor robot platforms offer lower rates than a human advisor could and allow for the same level of return on their investment. The automation of this occupation can also happen by intelligent systems that interact with investors as virtual financial advisors, possibly making use of avatars to offer a more appealing interaction. The efficiency achieved is similar to robots; the lower cost is due to lower hardware costs (Business Insider , 2017).

The prominence of High Frequency Trading, where algorithms make investment decisions worth billions of dollars, independent from human traders test the market, invest on their own accord in spit second trades show the maturity of the technology and the evolution of mass Forex (Foreign Exchange) trading software platforms that are simplified enough to  be operated from mobile devices based instantaneous market data analytics and automated strategy suggestions are just some of the ways financial industry has gained mass penetration (Flanagan, 2013).

 The scope of the machine learning is almost total , from mass market portfolio management and automatic investment practices without the interim financial manager , to algorithmic trading (mathematical models that automatically respond to market changes, to fraud detection (constant data surveillance and anomalies detection) to loan/insurance underwriting (based on easy and continuous data analyses of millions of people on multiple data trends such as age, jobs, credit risk, demographics etc.) 

(Faggella, 2018)

case examples

Categories: Skill Level 3