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A comment on Ask the algorithm: Human wealth advisers are going out of fashion. Parent comment

Re:Ask the algorithm: Human wealth advisers are going out of... by minimax on Wednesday September 23, 2015 @02:34PM (#10267032)
A mutual fund manager is not the same as a private wealth manager. Robo-advisors are replacements for private wealth managers. For example, a robo-advisor could recommend a human-managed mutual fund, or a human wealth manager could recommend a low cost index fund. You are confused about the two roles.
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Re:Ask the algorithm: Human wealth advisers are going out of... by toomuchtodo on Wednesday September 23, 2015 @02:58PM (#10267233)
A mutual fund is almost always more expensive then an ETF, and rarely outperforms them. It should be criminal for mutual fund managers to charge 1% or more for their services, when they underperform broad indexes so frequently.
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Re:Ask the algorithm: Human wealth advisers are going out of... by minimax on Wednesday September 23, 2015 @03:16PM (#10267409)
I don't think I was making an argument about the cost of mutual funds vs ETFs, but claiming mutual funds are more expensive than ETFs is silly. There are high cost ETFs just like there are high cost mutual funds. You have to look at the expense ratios etc, etc...
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Re:Ask the algorithm: Human wealth advisers are going out of... by imjk on Wednesday September 23, 2015 @03:20PM (#10267435)
Again, as OP pointed out, you're confusing wealth advisers with mutual fund managers.
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Re:Ask the algorithm: Human wealth advisers are going out of... by toomuchtodo on Wednesday September 23, 2015 @03:25PM (#10267472)
I'm not. A wealth advisor is a financial coach who is going to help guide you when you're a high net worth individual.

A mutual fund manager is someone who tries to attribute luck to skill.

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