Robo-Advice

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 […]

DETAIL
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 […]

DETAIL
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 […]

DETAIL
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 […]

DETAIL
Nov
29

Australians are starting to think robot financial advisers might be a good idea

The use of automated investment services, or robo-advice, is still small in Australia but is growing fast. The latest research by analysts Investment Trends shows 27% of online investors have heard of robo-advice, up from 19% just six months ago. Robo-advice, the field of online investment and savings platforms where face-to-face is replaced with automated guidance and execution, is growing via a series of fintech startups in Australia including Stockspot. “Many investors are taking notice of robo-advice, and have an interest in learning more about this potential digital disruptor in the financial services industry,” says Investment Trends research director Recep Peker. “Robo-advice will take centre stage as more solutions become […]

DETAIL
Nov
29

Pocketbook – best finance app of 2016

Pocketbook wins two prestigious industry awards to cement its place as the best finance app of 2016 Key facts: ● Won ‘Best Mobile App of the Year’, beating notable apps Commbank, Domain, Clipp and Pocket Casts ● Second significant industry award, having won Finder’s ‘Best Personal Financial Management App’ three weeks ago ● Small team dedicated to further breakthroughs in 2017 following recent zipMoney acquisition Pocketbook, popular personal finance app used by over 250,000 Australians has won a second consecutive industry award this week, prevailing yet again against some of the biggest digital companies in the country. At the largest Australian start-up conference StartCon 2016 over the weekend, Pocketbook was […]

DETAIL
Nov
22

Barry Lambert predicts 2017 The Year of the Robo

“YOU DON’T REVOLUTIONISE YOUR COBB & CO BUSINESS BY BUYING FASTER HORSES.”. IGNITION WEALTH INVESTOR AND MENTOR BARRY LAMBERT PREDICTS 2017 THE YEAR OF THE ROBO Digital financial advice is poised for rapid uptake in Australia, with 2017 set to be the year when professional financial businesses adopt ‘robo-advice’ as an essential element of their client offering. Ignition Wealth is at the forefront of the pack of Australian digital financial advice technology providers.   “Everyone is talking about the cloud revolution and many are looking to change their technology because they want to look smarter. Changing technology is very expensive if it does not revolutionise your business. Financial planning, a […]

DETAIL
Nov
22

We need plans for when robots are in driver’s seat

Financial services companies, including technology-oriented fintech start-ups, are emerging to challenge the roles of banks and the large financial institutions. Fintechs are rapidly transforming and disrupting the marketplace by providing digital or “robo-advice” using highly sophisticated algorithms operating on mobile and web-based environments. Last month, the Minister for Revenue and Financial Services, Kelly O’Dwyer, announced the Turnbull government’s intention to introduce professional standards legislation to set higher competence and ethical standards for human financial advisers — a move that is already under pressure from the robo environment. While the financial advice sector has expanded and matured over the past two decades, fuelled in part by new technologies, the regulatory framework […]

DETAIL