Investment Advice going online?

The video on the home page is compelling.

It’s really surprising how complacent the banks are. For whatever reason they think their customers are somehow ‘locked in’. The investment advisor game is somewhat sleazy, with ‘rich kids’ being recruited to milk their personal network, then being dumped when they fail to continue to perform. The online advice route is the way to go. People may say they want the personal touch, but there is a pretty simple formula for most situations, i.e. it ain’t rocket science, and statistics suggest that the vast majority of advisors don’t beat the indices on a consistent basis.
This site looks good too - learnvest.com. The founder says “financial advice will be as widely available — and affordable — as any other mass-produced consumer product or service. Think gym memberships. It will become the perfect wedding gift for your best friend, or for adult children after they have their first baby.’
Interesting how the dreams of late 99/early 2000 are coming into fruition for all types of business. Webvan failed back then but Amazon might make a go of grocery delivery.