The Royal Bank of Scotland [RBS] has announced it will be switching customer advice services over to “robo-advisers.” The company was given the green light from UK regulator, the Financial Conduct Authority (FCA), with the hope that the switch would lead to cheaper, more accessible financial advice.
Unfortunately for RBS employees, “scaling back face-to-face advisers” means human employees are being fired— 220 adviser positions have been eliminated, to be exact.
SARAH MARQUART – Futurism – March 22, 2016.
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