robo advice

Jun
12

Tech enabled, hybrid advice model emerges

Absolute Advice created a hybrid model – a full service advice practice employing tools commonly associated with robo-advice for on-boarding and investment.

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May
21

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.

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May
13

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.

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May
02

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.

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Apr
29

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.

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Apr
16

Key benefits of robo-advisors in Fintech

When you are investing and strive for a higher ROI, whom do you address? As a rule, you reach out to a team of wealth advisors. That means meeting regularly with those financial consultants to discuss your ventures and make adjustments to your investment portfolio. This process is time and money consuming and can be frustrating, as well. This does not need to be the case. We know how to change it with a revolutionary new approach to wealth management. A new service called robo advising makes it a thing of the past. These digital assistants provide automated algorithm-based portfolio management analysis with accurate figures and efficient risk assessment. Robo-advisors […]
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Mar
21

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 general advice to the masses. After Westpac announced it would no longer provide personal advice, leading wealth advisers also said the traditional model of major banks seeking to provide cheap, personalised advice funded by cross-selling products was now dead, following the royal commission, and agreed “robo advice” would emerge as the way of delivering financial […]

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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 executives George Frazis and Brad Cooper will leave the bank as part of the changes. Westpac chief executive Brian Hartzer said most customers did not differentiate between banking and wealth products and just wanted help to buy a home or plan for retirement. “We’re realigning our capabilities into the lines of business where it makes […]

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