Deep Reinforcement Learning for Robust Goal-Based Wealth Management

• URL: http://arxiv.org/abs/2307.13501v1
• Date: Tue, 25 Jul 2023 13:51:12 GMT
• Title: Deep Reinforcement Learning for Robust Goal-Based Wealth Management
• Authors: Tessa Bauman, Bruno Ga\v{s}perov, Stjepan Begu\v{s}i\'c, and Zvonko Kostanj\v{c}ar
• Abstract summary: Goal-based investing is an approach to wealth management that prioritizes achieving specific financial goals. reinforcement learning is a machine learning technique appropriate for sequential decision-making. In this paper, a novel approach for robust goal-based wealth management based on deep reinforcement learning is proposed.
• Score: 0.0
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: Goal-based investing is an approach to wealth management that prioritizes achieving specific financial goals. It is naturally formulated as a sequential decision-making problem as it requires choosing the appropriate investment until a goal is achieved. Consequently, reinforcement learning, a machine learning technique appropriate for sequential decision-making, offers a promising path for optimizing these investment strategies. In this paper, a novel approach for robust goal-based wealth management based on deep reinforcement learning is proposed. The experimental results indicate its superiority over several goal-based wealth management benchmarks on both simulated and historical market data.

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