Drop comes as AI firm Altruist launches service that helps advisers create personalised tax strategies
Wealth managers and price comparison sites have become the latest companies to be hit by fears that their businesses will be disrupted by new artificial intelligence innovations.
Shares in UK wealth management firms tumbled on Wednesday morning, after the AI company Altruist Corp launched a service that it said helps advisers create personalised tax strategies by reading clients’ pay stubs, account statements and other documents.