robo advice

Aug
30

Australia’s CommBank arms combine to launch robo-advice service

Two units of Australia’s largest bank have teamed up to launch a ‘robo-for-adviser’ portal aimed at financial advisers servicing high net worth clients. CommSec Adviser Services, the adviser support arm of the Commonwealth Bank of Australia (CBA / CommBank), and Colonial First State, part of the CBA’s global asset management business, will jointly provide the new system, named Portfolio Service. The service will offer a ‘one-stop-shop’ online that aims to enable advisers to manage their clients’ investments by automating administration and reporting requirements. Designed for the fee-for-service business models, the system can be customised to support specific advice fee structures and is offered by both firms. Better service CommSec Adviser […]

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Aug
28

How Fintech is shaping the future of Wealth Management

A new report from the World Economic Forum and Deloitte confirmed what many advisors, technology vendors and industry analysts have long insisted: it is established wealth management firms, not startups, best positioned to capitalize on disruptive technology. Robo advisors have proven to be an effective tool for customer engagement, but they’ve also proven relatively inexpensive and easy to replicate. By offering their own robo, firms increase customer stickiness while also avoiding the high client acquisition costs that plague startups. But the future is far from certain. Robos have set a new standard for the kind of personalized digital experience clients expect from financial services, and business-to-business fintechs—the so-called wealthtech companies—continue to automate more middle and […]

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Aug
16

Australian FinTech Launches Australia’s Only Dedicated FinTech Jobs Platform – Australian FinTech Jobs

The team behind the highly successful Australian FinTech website have soft-launched their FinTech employment marketplace platform, Australian FinTech Jobs. Founder and CEO, Cameron Dart, says AustralianFinTechJobs.com.au has been born on the back of the highly successful Australian FinTech website and growing demand from the local FinTech community to have a dedicated employment platform for the sector. AustralianFinTechJobs.com.au is Australia’s only dedicated platform for FinTech companies and Recruiters to promote FinTech, financial technology, financial services, banking, legal and IT employment opportunities in Australia. “Australian FinTech have built a new jobs startup for fintechs and startups about startups, fintechs and jobs” “When people think of ‘FinTech’ in relation to employment, they might […]

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Aug
10

Locked out of property market? Five better places for Millennials to put money

By Clayton Howes – CEO of MoneyMe Life sucks for an aspiring property owner right now. You probably already know that the average price of a house in Australia ($656,800) is several (eight) times that of the average full-time yearly income ($78,832). You’ve probably already heard that in the past five years alone, wages have grown significantly slower (13 per cent) than house prices (41 per cent), especially if that house is in Sydney (70 per cent). It’s enough to make you want to drown your sorrows in the most expensive smashed avo and latte combo available! But honestly – enough, already. If you’re as bored as I am of […]

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Aug
10

Fintech announces plans for expansion

Fintech firm Intiger Group Limited has announced the appointment of a non-executive director as well as plans for business expansion that will include new acquisitions. In a statement yesterday, Intiger announced the appointment of Tony Chong to the position of non-executive director. Mr Chong is the lead partner at corporate law firm Lavan’s Corporate Services Group. Mr Chong has extensive experience as a lawyer with specialist knowledge in corporate law and tax and has been a board member and chair of ASX-listed, private and non-profit companies, the statement said. “Intiger’s highly scalable platform is an innovative technology, disrupting the traditional financial planning industry and I am extremely excited by its […]

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Aug
09

FinaMetrica announces international merger

Regtech provider FinaMetrica has announced it will merge with a foreign financial services software provider to create a new entity. In a statement today, FinaMetrica, a risk profiling tool provider, announced it has merged with Canada-based financial software company PlanPlus. The two firms have collaborated together for over a decade. In 2016 they partnered to create a robo-advice offering. The merging of the two companies will create a new entity called PlanPlus Global, however the PlanPlus and FinaMetrica brands will also continue to offer their products on a stand-alone basis, the statement said. PlanPlus founder Shawn Brayman is the CEO of the new PlanPlus Global entity, while FinaMetrica co-founder Paul Resnik is the […]

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Aug
08

Fear and loathing from Silicon Valley

By Jacqui Henderson, Founder & CEO – Advice Intelligence An all-pervasive feature of modern life is the speed of technological change, and of our collective capacity to adapt to the multiple impacts of change. It is natural to question the benefits: does the constant challenge to keep up and adapt simplify my life or make it ever more complex? Would a fully-automated advice capability drive better service standards and outcomes for my advice business and my clients, or does it simply make my job redundant? Is all the talk of technological revolution that ricochets around the world out of Silicon Valley, the advent of artificial intelligence and robotics, and the […]

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Aug
07

Advice practices need to pay attention to next disrupters

Managed accounts, robo-advice, and scaled advice are going to be the norm in the next two to three years, Netwealth believes. Presenting at Money Management’s Fintech, Platform and Wraps conference on Thursday, Netwealth head of managed accounts – strategy and development, Steve Thomas said advice businesses were not fully across technologies that were available. Thomas said 29 per cent of advisers were using some level of scaled advice and 31 per cent expected to use it in 12 to 18 months. “They recognise that scaled advice can certainly help in the ongoing management of their clients,” he said. “The interesting part is for those 29 per cent using it, 40 […]

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