Advice

Mar
19

Westpac abandons financial advice

Westpac will get out of the troubled personal advice sector and two of its top executives will depart the bank as it joins its big-four rivals in abandoning the once-dominant model of vertical integration. The bank announced on Tuesday it would exit the high-cost, loss-making business, producing $280 million in savings by 2020. Westpac group […]

By Reposted by Australian FinTech | Banking . FinTech
DETAIL
Mar
07

Practifi integrates with XPLAN to create an end to end business technology solution for Australian financial advisers.

Practifi, the business management platform for financial advice, has today announced their integration with Iress XPLAN, which will be available to clients in their forthcoming product update. The integration will provide advisers with a business management solution that proactively improves compliance and increases efficiency by eliminating data duplication with a single, fully integrated client record. […]

By Australian FinTech | FinTech
DETAIL
Feb
25

IRESS CEO Andrew Walsh tips widespread automation of financial advice

Financial services software company IRESS is tipping a burgeoning role for the automation of financial advice in the aftermath of the Hayne royal commission as the sector looks to rebuild trust. The business, which is valued at $2.2 billion, ​provides a full suite of software services ranging from client relationship management to portfolio tracking for […]

By Reposted by Australian FinTech | FinTech . Investing
DETAIL
Feb
22

Tech puts value of advice in question

Addressing a room of financial advisers at the Portfolio Construction Forum’s 2019 Finology Summit yesterday, US-based financial planner, Michael Kitces, says advisers should turn their attention away from the regulators and towards technology if they want to stay relevant. Kitces said technology has slowly (and silently) been disrupting the financial advice industry since Wall Street […]

By Reposted by Australian FinTech | FinTech . Investing
DETAIL
Jan
31

Are dealerships dead?

by Steve Thomson, CEO of TIQK Regardless of the findings from the Royal Commission into Misconduct into the Banking, Superannuation and Financial Servicesindustry, we believe changes are necessary to the vertically-integrated distribution model of the last twenty years. Consumers now demand transparency, which drives changes to adviser culture and conduct. At best, increased compliance controls […]

By Australian FinTech | Banking . FinTech
DETAIL
Jan
30

The team at Investfit have been busy…. and that’s just the beginning!

Investfit has just released a new version of its advanced financial advice application, with many improvements and some new, sought-after features. Investfit is a client engagement tool that produces better financial outcomes for clients, lower risk and lower costs for the adviser. The latest enhancements include: Improved look and feel Fully configurable for each advice […]

By Australian FinTech | FinTech
DETAIL
Jan
16

‘Collaboration’ key to seeing full potential of AI

New calls have been issued for the finance industry to change its mindset and embrace “greater collaboration” to leverage the full potential of artificial intelligence and machine learning technology. Education provider Kaplan Professional and regtech company Red Marker issued the call after noting that the financial advice industry had been looking for automated compliance solutions […]

By Reposted by Australian FinTech | FinTech
DETAIL
Jan
15

Research shows that budgeting and cashflow management the top advice priority for younger Australians

Younger people overwhelmingly rank budgeting and cashflow management as the most valuable type of financial advice they can receive, according to a recent ING and Rice Warner survey of more than 1000 Australians. Gen Z (66 per cent), Gen Y (60 per cent) and Gen X (40 per cent) all cited budgeting and cashflow management […]

By Australian FinTech | FinTech
DETAIL