robo advisors

Jul
10

Robo-investment – Retirement takes the crown

A customer insights study by automated investment service Six Park has found that more than half its clients are using the robo-investment service to grow wealth outside of super (36.5%) and for retirement savings (28.6%). These long-term goals ranked higher than the desire to save for property or saving for short-term goals such as holidays and weddings. The study results were released as Six Park celebrates its second birthday. The highest percentage of customers using their Six Park investment as a way to generate wealth outside super came from age groups under the age of 45, suggesting that long-term investing is increasingly a focus for younger generations. “It’s very encouraging […]

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Jul
09

AFL’s Ted Richards and the human side of robo-investing

There is a lot of talk about the entry of ‘robo advisers’ into the financial advice market. Revelations by the banking royal commission have accelerated calls for technology to provide the answer to the broadening trust deficit and intractable problem of advice being too expensive for the average investor. However, despite these tailwinds, the take up of digital advice in Australia has been relatively modest. This compares to the United States where a significant proportion of investors are embracing technology-enabled advice solutions, such as Betterment and Wealthfront. Home-grown Australian providers, such as Clover and Stockspot, have made inroads with their low cost, automated investment offerings. The challenge remains for consumers […]

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Jun
28

CIPR framework timely but questions remain

The retirement income strategy and implementation timeline proposed in this year’s Budget is “workable and sensible” but there are concerns the Federal Government should quickly address. This is according to SuperEd, the robo-adviser aiming to improve retirement incomes. In its submission paper to the Retirement Income Covenant Position Paper, SuperEd said it fully supports the Government’s move to address the needs of a maturing membership base, and commends it for factoring in circumstances often overlooked – member needs and preferences, eligibility for the Age Pension and cognitive decline. But there are still a number of drawbacks, SuperEd chair Jeremy Duffield said. One is that CIPRs don’t adequately appreciate the volatility […]

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Quantifeed eyes Australian expansion with $13.5m raising

The fintech is looking to expand its B2B robo-advice business in Australia as a part of a $13.5 million venture capital raising announced today. The series B funding was led by Taiwanese giant Cathay Financial Holdings, with participation from US-based asset manager Legg Mason, and will go towards Australia and Asia Pacific growth. “We will be growing the Australian team over the next six to 12 months and also open an office [on an undisclosed timeline],” Quantifeed co-founder and chief executive Alex Ypsilanti told Financial Standard. The five-year-old fintech has now raised a total of $24 million. This includes today’s $13.5 million, a series A funding of $6 million in […]

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Jun
18

ETF Securities says ROBO ETF surpasses $100m as investors embrace global opportunities

ETF Securities Australia today announced that ETFS ROBO Global Robotics and Automation ETF (ASX code: ROBO) has achieved inflows of $100 million since its launch in September last year. This is the fastest growth of any ETF offered by ETF Securities since its founder and Australian philanthropist Graham Tuckwell launched the world-first GOLD product in 2003. ROBO is the first exchange traded fund in Australia to provide investors with access to global companies focusing on robotics, automation and artificial intelligence (AI) technologies. It represents a partnership between ETF Securities Australia and US-based specialist robotics and automation index and research provider ROBO Global, tracking the ROBO Global Robotics and Automation Index. […]

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Jun
18

Automated advice to help Australians’ money grow

Cotton farmer George Stacey grows crops for a living and he’s also focused on watching his finances flourish. A long way from the hustle and bustle of city life, the 24-year-old works on a 97,000 hectare farm in Goondiwindi, 300km southwest of Brisbane, and said he loves investing in companies all over the world “from my couch in remote western Queensland.” Following in his father’s footsteps of investing, Mr Stacey said “ever since I was a young kid when the finance news would come I had a bit of an interest in it and my dad invested in a share portfolio”. “When I went out west and I started to […]

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Jun
05

How AI is becoming an asset to the finance industry

As AI transforms an increasing number of domains, players in the finance industry are moving fast to keep pace. While many people are aware of the term artificial intelligence (AI), this is largely in relation to the more extreme use-cases of AI such as flying cars and Sophia the AI robot. Yet, much of our contact of AI – and our understanding of it – revolves around products that affect our everyday lives as consumers. An example of this is within the finance industry. Many key players are leveraging the power of AI to improve their services. Here are three ways AI is disrupting the finance industry: Customer service chatbots […]

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May
22

Think you’ve innovated? Enter the finder Awards 2018 to show ‘em what you’ve got

We’ve seen our fair share of fintech innovations over the past few years. From robo-advice to peer-to-peer (P2P) lending to Blockchain, innovation has been offered in spades within the Australian marketplace. The finder Awards 2018 celebrates excellence in local business innovation by recognising creativity and impact across key industries including banking, property, retail, travel and of course, fintech. Comparison site, finder.com.au, invites the nation’s most forward-thinking businesses, both big and small, to step forward and showcase their best innovation. From Best Tech Innovation to Best Personal Finance App, there are seven innovation categories now open for submission. These include; Best Tech Innovation Best Online Shopping Innovation Most Innovative Team/Person Best […]

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