GPS robo-adviser launches
Plenty Wealth, a robo-adviser that combines human advice has officially launched.
Co-founders Josh Golombick and Greg Einfeld said Plenty Wealth provides a financial roadmap and acts like a “GPS service” in terms of financial goals, covering automated advice from budgeting and cash flows, to insurance, property and investments.
One of the biggest advantages of an algorithm is that the results are transparent and cannot be swayed by human bias and conflicts, said Einfeld, who helped develop the algorithms based on his 20 years of working in the superannuation and wealth management industries.
“What’s more, they allow us to produce quality advice on demand and bring the cost down to nothing,” he said.
The basic option provides free budgeting analysis, tax, investment and super recommendation, and life insurance review.
The full digitised adviser option costs $59 per month and charges a 0.3% fee on assets under advice, which includes two meetings with a financial planner per year, rebalancing of super and investment accounts, and unlimited adviser support via email.
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