The Australian corporate regulator has released formal guidance on providing robo-advice or other forms of digital advice to retail clients in order to help the growing band of start-ups and fintech companies entering the field.
Robo-advisers will have to wait up to a decade to make a profit from their clients, according to a new report into the sector.
Robo-advice and investment service Munnypot said it plans to launch a financial advice service to the UK market in the autumn that offers straightforward advice using simple language.
Hong Kong-licensed online broker 8 Securities plans to launch a second generation ETF robo-adviser in the current quarter with lower fees to attract cost-sensitive investors.
Over 80% of UK-based financial advisers are unconvinced of the merits of robo-advice services to tackle the United Kingdom’s advice gap, according to research by Prudential.
Advisers in the UK do not see the launch of online robo-advice alternatives as a threat to their face-to-face advice business models, research from MetLife shows.
UK robo-advisers are ‘wired’ to lose money and most will go bust before acquiring the sizeable assets under management needed to survive, a scathing new report has warned.
Despite 68% of UK financial advisers reporting more profitable operations this year compared with 2015, low growth in client funds is a potential threat to future profits.
Hong Kong regulations require human involvement rather than an automated process in order to provide wealth management services, said iFast Financial (HK) chief operating officer Kelvin Yip.
“Dave, this conversation can serve no purpose anymore. Goodbye.” Those immortal words from Hal, the computer in Stanley Kubrick’s film ‘2001: A Space Odyssey’ had massive ramifications for the spaceship’s crew member and could be a portend (albeit fictional) for the way robo-advice may be taking us.
Half of UK financial advisers now offer their clients 24-hour access to their investment portfolios, more than double the number that provided the same service last year, according to a new report by ratings and research agency Financial Express (FE).
Robo-advisers will have a significant impact on the financial services industry over the next five years, a global fintech survey by CFA Institute showed.
