Robo-Advice

Jan
12

How automation is shaping fintech plans

Digital innovation and partner collaboration are key. A new industry report calls for investment banks to take advantage of technological innovations by optimising outdated operating models, improving automation and undertaking a digital transformation. Australian consultants EY’s Capital Markets: building the investment bank of the future report reveals that, despite continued efforts to reduce costs, investment banks are becoming less efficient. These institutions remain reliant upon maintaining decades-old, complex and inflexible IT infrastructure. The report suggests banks can do more to enhance their business by harnessing fintech innovations. For example, over the short-term investment banks can develop robotic process automation (RPA) and advanced analytics to sort through large amounts of data. […]

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Jan
09

High-net-worth investors embracing robo-advice

Robo-advice platforms’ capacities are expected to continue growing in the coming year, according to Finovate, expanding their functionality to include broader wealth management functions and cater to high-net-worth customers. The “myriad” financial needs facing Millennials, coupled with increasing longevity risk confronting older investors, has driven change in the robo-advice space, Finovate research analyst David Penn said, with the improving abilities of such services now extending beyond “traditional boundaries”. “The growing capacity of robo-advisers to help manage other aspects of personal finance supports a more expansive view of wealth management and financial planning,” he said. “This includes everything from health care planning, insurance, even real estate, education and leisure.” As robo-advice […]

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Jan
02

Robo advice start-up Six Park closes $1.5m capital raise

A Melbourne-based robo-adviser has closed a $1.5 million capital raise from a powerful group of investors that includes a former finance minister and an ex-Deutsche Bank ANZ exec chairman. This is the second round of funding for DIY investment platform Six Park, which has now raised a total of $2.9 million to help it in its quest to deliver transparent advice to Australians, while also undercutting banks and the financial planning industry with lower fees. Ex-chairman of M&A for Deutsche Bank ANZ Michael Roche has become a new investor in Six Park and former federal finance minister Lindsay Tanner, who was already on the company’s advisory board, has now invested funds […]

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Merger Creates Powerful Fixed Interest Investment Player in the Australian Market

Trustees Australia (ASX:TAU) and the new fintech marketplace operator, Cashwerkz, are excited to announce a merger where by an established business with plenty of FUM (funds under management) but no platform, effectively buys a brand new platform with a growing distribution network.   The combined business will serve retail customers, the financial planning industry, and the middle market – comprising superannuation funds, councils, and other entities – looking to invest large cash balances.   Anyone that needs a term deposit or a related cash product can access these through the powerful Cashwerkz platform which – in essence – is a new market place for cash. The platform’s unique back-end technology makes […]

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Dec
14

Turnbull says fintech is switched on

Prime Minister Malcolm Turnbull has sought to reassure leaders of the wealth-management industry that the government is committed to reducing red tape and fostering innovation. This comes as the government looks to the booming financial services sector to pick up the slack from declining mining industry revenues and boost economic growth. The latest set of national accounts, released last week, showed that over the three months to September 30, gross domestic product (GDP) recorded the slowest quarter of growth since the global financial crisis nearly a decade ago. A 0.5 per cent fall in GDP over the September quarter, which pushed the annual growth rate down to just 1.8 per […]

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Dec
14

Stone & Chalk fintechs integrate to unlock huge opportunities for advisers

Award winning fintechs from Stone & Chalk – Macrovue and Fincast – integrate to offer a comprehensive off-platform investment solution.   Global thematic trading platform, Macrovue, and model portfolio management tool, Fincast, have teamed up to provide a game-changing solution for the wealth management industry.   The integration of the two award-winning, next-generation solutions will provide advisers with the ability to automatically create tailored multi-asset class portfolios, matched to a client’s unique goals and risk profile and seamlessly execute the trades, all in under one hour.   The solution will see a huge increase in efficiencies for advisers. Model portfolios teamed with seamless automation and execution will free-up advisers and […]

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Dec
14

Stone & Chalk fintechs integrate to unlock huge opportunities for advisers

Award winning fintechs from Stone & Chalk – Macrovue and Fincast – integrate to offer a comprehensive off-platform investment solution.   Global thematic trading platform, Macrovue, and model portfolio management tool, Fincast, have teamed up to provide a game-changing solution for the wealth management industry.   The integration of the two award-winning, next-generation solutions will provide advisers with the ability to automatically create tailored multi-asset class portfolios, matched to a client’s unique goals and risk profile and seamlessly execute the trades, all in under one hour.   The solution will see a huge increase in efficiencies for advisers. Model portfolios teamed with seamless automation and execution will free-up advisers and […]

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Dec
08

Lindsay Tanner  joins robo-advice brigade at Six Park

To what extent can a robot replace a human financial adviser? Former federal finance minister Lindsay Tanner reckons he has an answer to this vexed question. Although Australian investors have seen a range of technology-enabled investment options come to the local market in recent years, the launch of robo-advisers poses one of the more interesting philosophical questions. Tanner has linked up with a star-studded team to launch Six Park, a new robo-advisory firm that adds a human touch to the automated elements through an advisory board that supervises the investments. Six Park’s advisory board is chaired by former JPMorgan Australia chairman Brian Watson, with Paul Costello — former chairman of […]

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