robo advice

Jul
14

Fintech players winning with disappointed advisers

Newer advice technology providers have defeated their more established competitors in securing the top spot for adviser platform satisfaction, despite industry-wide disappointment in current tech options. According to the latest Investment Trends Planner Technology Report, newer platforms are gaining momentum in the industry and threatening more established players. CFS FirstChoice and BT Wrap are the two most widely used platforms among planners however newer platforms such as Netwealth, HUB24 and BT Panorama are steadily extending their market share, the research showed. In the InvestmentLink research Netwealth and HUB24 both came in as the top platforms in terms of overall adviser satisfaction for this year. CFS FirstChoice came in second, BT […]

DETAIL
Jul
06

Optimo introduces robo platform

Optimo Financial is releasing its online financial modelling solution for advisers as it aims to make the provision of goals-based advice more seamless. The Optimo Pathfinder personal finance modelling system is now available to dealer groups, financial advisers and paraplanners, using an algorithm developed with a goal orientated approach. In a statement, Optimo said the solution will optimise clients’ financial strategy to best achieve financial and life goals, accounting for tax and superannuation legislation, family tax benefits, the Age Pension and a host of other factors including the client financial status to develop its strategies. Optimo Financial chief executive Hugh Bannister said: “We believe there is a market niche for […]

DETAIL

This Australian startup which gives robo advice on ethical investments is one to watch

Tom Culver, CEO and co-founder of Goodments, an app which gives robo advice on whether potential investments will do good for the world, has been named as winner of the inaugural EY WAMTech PitchFest. Goodments is a business with a mission to create a more sustainable future. His fintech solution simplifies the process for financial advice within the wealth and asset management (WAM) industry. “Right now, it all feels like we’re going backwards on the sustainability and environmental front,” says Culver. “Bad leadership, regressive policies and all sorts of other madness. It’s easy to feel powerless. “Focusing on millennials and those with a more ethical mindset, we are making it […]

DETAIL
Jun
27

Winners of the 2nd Annual Australian FinTech Awards 2017

Congratulations to the winners of the 2nd Annual Australian FinTech Awards 2017. The 2nd Annual Australian FinTech Awards celebrate the achievements of the dynamic people and businesses comprising the FinTech sector. These Awards seek to recognise success in the FinTech sector in its many forms. The event was a fantastic evening of celebrating the best innovation, created by the best innovators and entrepreneurs that live and work in Australia. Here are the winners for the 2nd Annual Australian FinTech Awards 2017: FinTech Innovation in payments ZipMoney   FinTech Innovation in Wealth Management (Robo-Advice) Pocketbook   FinTech Innovation in Lending Tyro Payments   Best FinTech Communications Campaign BRICKX   Best Research […]

DETAIL
Jun
26

Former AFL star Ted Richards’ goal for robo adviser Six Park

Ted Richards learnt an important investment lesson as a young footballer, one that would lead him to pursuing a career in the financial services sector after he retired from sport. Richards was drafted to AFL club Essendon as a 17-year-old in late 2000 and once in the sporting system found himself getting paid relatively well for someone his age and wondering what to do with his money. A gift from his father, the Peter Lynch book One Up On Wall Street, gave him the idea of dabbling in the stock market. “I was 17, living at home and didn’t have a lot of expenses, so when I started getting pay […]

DETAIL
Jun
21

The finalists for the 2nd Annual Australian FinTech Awards 2017

The 2nd Annual Australian FinTech Awards 2017 celebrate the achievements of the dynamic people and businesses comprising the FinTech sector. These Awards seek to recognise success in the FinTech sector in its many forms. This event will be an evening of celebrating the best innovation, created by the best innovators and entrepreneurs that live and work in Australia. Here are the finalists for the 2nd Annual Australian FinTech Awards 2017 to be held Thursday 22 June in Sydney: FinTech Innovation in payments Tyro Payments ZipMoney Afterpay   FinTech Innovation in Wealth Management (Robo-Advice) Acorns Grow Australia Six Park Pocketbook   FinTech Innovation in Lending SocietyOne MoneyMe Financial Group Tyro Payments […]

DETAIL
Jun
10

Robo-advice finds market in digital-savvy older investors

Hey robo-advisers … You’re looking the wrong way! Millennials have no spare money and don’t care about investing just yet — but older Australian investors are more than ready to play. One survey after another in the US shows older investors are ­actually super keen to examine low-cost digital-based financial services. And closer to home, it’s worth pointing out that a recent survey from the SMSF Association revealed a higher portion of Australia’s one million SMSF operators were willing to try robo-advice than the general public. No doubt this emerging reality has not been lost on the kingpins of Australian finance — the banks. Earlier this week, NAB funds management […]

DETAIL
Jun
02

Australian robo-advisors dismiss ING report

The new survey by finance giant ING has been dismissed by Australian robo-advisors as failing the history test and being contradicted by other studies. ING’s survey, which captured headlines, found that 90 percent of global respondents would never use robo-advice. Robo-advisors ranked below friends, family and even the internet as a source of investment advice. “Years ago our parents generation paid for everything in cash and cheque books, people were initially fearful of ATM card technology and online shopping . We now live in virtually a cashless society and online retail is the norm,” Chris Brycki, the CEO of Stockspot, told AltFi. “The idea that robo-advice can’t replace a human […]

DETAIL