Robo-Advice

Feb
09

Australian FinTech launches International FinTech platform

The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, InternationalFinTech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]

DETAIL

Midwinter : Reputational risk still a determining factor for advisers when it comes to Social Media

It appears that the Australian advice industry is split when it comes to whether reputational risk prevents them from participating on social media channels, according to research carried out by Midwinter Financial Services in conjunction with Jenesis Consulting. In 2016, Midwinter surveyed 153 advisers of varying backgrounds and specialisations on Digital and social media, with the results revealing mixed feelings on many aspects in regards to how the industry engages with these tools. The responses were compiled and put together in Midwinter’s Digital and Social Media Survey Report. Of particular interest was that 87.3% of planners surveyed believed there to be some degree of reputational risk involved in engaging on […]

DETAIL
Feb
06

Ignition Wealth announces new XPLAN consultancy division assisting advisers to prepare for robo-scale

Ignition Wealth CEO Mark Fordree today announced a new division of Ignition Wealth which will offer full XPLAN support and consulting to help advisers get the most out their XPLAN solutions and prepare to add ‘robo’ services to their businesses.   Ignition Wealth will deepen its existing digital advice integration with XPLAN, creating a seamless pathway between automating ‘robo-advice’ and full service advice.   “XPLAN is the leading financial planning solution in the market and we are delighted to now offer our clients a range of XPLAN services to help them better leverage technology in their businesses. We believe the true scale of digital advice is best delivered by integrating […]

DETAIL
Feb
02

Robo-advice using algorithms are replacing financial planners

The next adviser who offers you a loan or investment opportunity might be a robot. And you could be really happy about that. You might trust them more than a human ­financial planner to deliver totally independent advice. Well, that’s your call. But robot advice is part of a new financial marketing system that could chug along without much human intervention and is aimed at giving you a sense of financial security. Robotic algorithms and computers can recommend home insurance, superannuation schemes, health insurance and property conveyancing — all without a human being within cooee. It’s done by selecting products based on the preferences of people in the same situation, […]

DETAIL
Jan
30

Blockchain and others will transform financial advice

The potential for distributed ledger and associated technologies has fundamental, long-term ramifications for financial planning businesses. Planners need to be across these innovations now so that when commercial solutions that use these technologies hit the market, their businesses are ready to embrace them. Distributed ledger technology is a way of recording information that makes it easy to verify. Blockchain, which is the system that records how the virtual currency Bitcoin is stored, is one application of this technology. Shortened Australian Securities Exchange (ASX) transaction settlement times will likely be the first real change to the market from Blockchain. Last year, the ASX invested $14.9 million to acquire 5 per cent […]

DETAIL
Jan
27

Scott Morrison backs robo-advisers to cheap superannuation advice to retirees

Treasurer Scott Morrison has endorsed “robo-advisers” offering cheap automated superannuation advice as the next step in Australia’s financial industry, and urged consumers to overcome their privacy fears about business and governments sharing personal data. As the Turnbull government continues to battle controversy over Centrelink’s “robo-debt” letters, Mr Morrison has been spruiking to his international counterparts the commercial and economic opportunities of automated services and sharing consumers’ data. “One of the prime examples is robo-advice, which has the potential to offer financial advice to a wider cross‑section of the community,” Mr Morrison told at a G20 conference in Germany. “In Australia, businesses are beginning to integrate robo-advice into the retirement savings […]

DETAIL
Jan
19

IFM deal gives Decimal greater access to industry super funds

The $72 billion IFM Investors fund has taken a stake in the ASX-listed digital advice supplier, Decimal, providing the Perth-based company with a key connection with the $500bn industry super fund sector. The holding gives IFM, which invests funds for the sector, a 6.5 per cent stake in the online ­advice company. IFM’s $750,000 investment was made as part of a $2.29 million capital raising by Decimal led by Bell Potter Securities that closed this week. While it is a small investment for IFM, which is owned by 28 major super funds, most of them industry funds, its backing provides potential business oppor­tunities for Decimal, which is developing digital advice […]

DETAIL
Jan
13

FinTech: UK Vs Australia

by Matthew Parker, The MitchelLake Group Having recently moved from the UK to Australia, I have been excited to observe and experience first-hand some of the differences between the UK FinTech ecosystem and that of its Antipodean cousin. I do not, by any means, pretend to be an expert, but I have had the privilege of working with and alongside some of the most exciting FinTech businesses and individuals across multiple markets. Any observation I am able to draw comes from a place of passion and sincere enthusiasm as well as a helpful dose of experience. So without further ado, let’s compare and contrast. The UK hit its stride at […]

DETAIL