Robo-Advisors Moving Into Bank Of America Merrill Lynch

First robots took over the world of trading, and now algorithmic eyes are focused on human financial advisors. Among the first major warehouses to submit to the trend of offering “robotic” advice options to its customers is Bank of America Merrill Lynch.

Reported robo-advisors firm at Bank of America Merrill Lynch to initially tackle accounts with under $250,000 in assets

Bloomberg is reporting the firm is developing an electronic recommendation platform which will initially target accounts under $250,000 in assets. The “robo-adviser” program, which use mathematical formulas to match investors with the appropriate portfolio, essentially doing what a human advisor does, will unveil the service next year, according to unnamed sources.

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