Robo-Advice

Mar
31

A view to the future of investment operations

Blockchain, artificial intelligence, robotics, automated data entry and data mining are some of the big technological trends set to radically disrupt the way the back-office teams of superannuation funds and their service providers do their jobs in the not-too-distant future. The onslaught of change confronting investment operations teams is not limited to technology, though. The shift in assets to the deaccumulation phase, mergers, growth in funds under management and unrelenting regulatory changes are forcing industry players to make serious decisions about what to prioritise. Investment operations refers to all the cogs of the financial services machinery, and covers areas such as the implementation of investment transactions, performance reporting, analytics, fund […]

DETAIL
Mar
23

Robo-advice is not enough, says fintech Investfit

While robo-advisers have been heralded as a cheap solution for Australians looking to invest their retirement savings, the team behind a newly launched app wants put high-quality, face-to-face advice back on the radar. Investfit, which was launched by Ed de Salis, James Claridge and Gavin Daw in 2015, and was a resident at fintech incubator Stone & Chalk, uses historical investment market data to project a person’s income in retirement, based on their current investment strategy. The app can simulate thousands of different investment strategies. “While automation in the industry is reducing costs, and digital tools such as robo-advisers can invest our money cheaply online or generate a statement of […]

DETAIL
Feb
21

Digital advice: from robo revolution to enterprise evolution

As digital financial advice gains ever-growing traction among superannuation providers, the hype around “robo-advice” gives way to enterprise-level requirements. Decimal Software CEO Nic Pollock says B2C wealth management and enterprise-grade digital financial advice serve very different needs, and customers. Federal Treasurer Scott Morrison recently told a G20 conference in Germany of his plans to encourage more robo-adviser start-ups to launch in Australia. Undoubtedly he believed doing so would enhance opportunities for more Australians to gain access to financial advice and in turn provide better financial security and retirement outcomes. But his comments highlight a general lack of understanding of the differences between “robo-advisers” and the digital advice needs of the […]

DETAIL
Feb
16

Decimal, Mercer deal to boost advice engagement

Decimal has announced a new partnership with global consulting firm Mercer to deliver Decimal’s robo-advice platform Eqilize to more than two million Australians and “engage customers who currently don’t seek advice”. In a statement yesterday, Decimal said it will be partnering with global wealth consulting firm Mercer. The deal will see Mercer offer Decimal’s Eqilize digital advice solution across the super funds it services. More than two million Australians will have access to the robo-advice platform as Mercer seeks to further engage customers with financial advice. “Technology is key to engaging customers who currently don’t seek financial advice,” Mercer said. Mercer chief customer officer Cambell Holt said, “Digital advice isn’t […]

DETAIL

BetaSmartz automated investment launches in Asia

BetaSmartz, the B2B automated investment platform for all sizes of investors, from institutional to retail, today announced it had opened offices in Hong Kong. BetaSmartz offers ‘hybrid ‘ digital investment or ‘robo’ advice that combines automated and face-to-face financial advice. Newly appointed Managing Director Asia, Zak Allom, said this model had been well received since its launch in 2015, with several clients now live including two in the U.S. “Robo has been a big buzzword, but for the most part the actual delivery hasn’t been different from the automated financial planning software we’ve been used to since the 90s,” he said. “BetaSmartz is much more than a sexy front end […]

DETAIL
Feb
14

Dart aims for a United States of Fintech

Australian tech entrepreneurs have launched a new digital home for the global fintech community, providing an agnostic platform that founders hope will one day become the seat for an inclusive and encyclopaedic fintech commonwealth. Founder and CEO, Cameron Dart, told AB+F that the International FinTech platform, combines a web portal and directory to meet growing demand from the global community to have a dedicated, online and natively fintech presence for a sector that transcends borders. “We like to think of it as the beginnings of a LinkedIn for fintech,” Dart said. This week’s launch, built on the back of the original Australian FinTech, already encompasses more than 1,000 global fintech companies […]

DETAIL
Feb
14

Ignition Wealth announces goals-based investing

Ignition Wealth CEO Mark Fordree today announced a groundbreaking development as Ignition Wealth becomes the first Australian ‘robo-adviser’ to offer goals-based investing. Ignition Wealth has appointed SiResearch to provide adaptive asset allocation built around goals which have a specific objective and timeframe. Traditional risk assessment has focussed on the investor’s long-term goals, often focussing simply on retirement. The goals-based model acknowledges that investors’ goals may fall into several buckets including short term, medium term and legacy.   “In reality an investor’s attitude to risk is influenced by what their goal is and the date by when they want to achieve it. The SiResearch goals-based investment model adds a specific objective […]

DETAIL
Feb
13

Fintech disruptors hurting established players

As trends go, financial technology is a beauty. The prospect of nimble “fintech” ventures disrupting financial-service incumbents has whet investor appetites. An Australian fintech sector is rapidly emerging. Fintech has been a boom sector in the United States and United Kingdom as technology-based companies, with their capital-light business models, nibble at the market share of large firms. It happened in print media, publishing, music and education. Now the same trend, where new firms offer financial products and services using online platforms, is disrupting parts of banking, wealth management, insurance, payments, accounting and foreign exchange. There is, of course, much hype about fintech. But the financial-services sector looks a prime target […]

DETAIL