Rise of robo-advisors in mortgage business could have an impact

Vancouver-based Responsive Capital Management Inc., a new robo-advisor powered by artificial intelligence (AI) technology, announced on Wednesday that it has officially launched its services to Canadians following a beta program that began in late June.

Responsive’s AI uses diverse data to assess probabilities for the direction of asset prices and applies those insights to client portfolios with the aim of achieving above-average returns.

The company’s AI-driven technology has a three-year track record helping manage more than $1.2 billion of institutional and high net-worth capital. With Wednesday’s launch, those services are now available to retail clients with account sizes as small as $10,000.

“Imagine: the same AI that enables Amazon, Apple and Google products, such as machine learning, now powering and protecting your diversified portfolio” says Davyde Wachell, the company’s CEO, in a statement.

Much like Responsive’s existing robo-advisor competitors, the company uses low-cost exchange-traded funds (ETFs) to create client diversified portfolios; however, Responsive’s AI modifies its portfolio positions based on more than 100 global economic and market signals that it tracks, such as interest rates, volatility indices, and factory output.

For more details on how Responsive’s AI-driven robo-advisor service works, read New robo-advisor embraces AI-driven active management.

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