Money flows indicate the future is now
There is a massive shift of money coming out of actively managed funds and into ETFs as investors look to manage their fee budget more effectively.
Forget humans, more than 1m could be using robots for financial advice
Traditional face-to-face financial advice businesses face tighter curbs on fees and tougher disciplinary rules as a result of the Hayne royal commission.
AI to impact all aspects of advice: Report
An upcoming whitepaper reveals the rise of machine learning and artificial intelligence will transform every aspect of advice over the next five years.
30% of Aussies trust robo-advice
Nearly a third of Australians trust robo-advice, new research from Thinque has shown, which it said is a reflection of diminishing faith in human advisers.
Key benefits of robo-advisors in Fintech
Future of advice: boutiques for some, robo-plans for the rest
Westpac chief executive Brian Hartzer says the growing cost of providing personal financial advice, including sky-rocketing regulatory costs, is creating a bifurcated financial advice market, with specialist boutiques serving customers willing to pay more for bespoke plans, while banks – sensitive about their reputations following the Hayne inquiry – shift to an automated model supplying […]
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 […]
Trust deficit means fintechs will fly
Leading fintech founders believe the fallout from The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is a great opportunity for them to wrest market share from the major banks. They believe their existing focus on customers is a serious competitive advantage they can exploit as mainstream financial services businesses reposition […]
