Fin365 to launch hybrid advice platform
Fin365 is planning to launch a robo-advice platform, having acquired miPlan as part of its strategy.
miPlan is a privately-owned, self-licensed robo-advice platform for individuals, retirees and small businesses. The acquisition aligns with Fin365’s mission to provide consumers with access to affordable and quality advice, Fin365 said.
Acquiring miPlan provides Fin365 with an AFSL and consumer-facing brand required to build out its hybrid advice model which will now also offer investment and insurance solutions.
While the Fin365 solution has traditionally been used by financial services firms, it can equally be applied to deliver simple, scaled advice, the company said.
“Consumers who engage directly with the miPlan platform will be able to select from variety of DIY service levels. At the point they identify a need for full-service advice, they will be seamlessly transitioned to a financial planning firm whose practice management system is directly connected to the platform,” Fin365 chief executive Stephen Handley said.
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Source: Fin365 to launch hybrid advice platform | Financial Standard