Don’t dismiss fintech revolution, but don’t romanticise it
A random walk through the world of wealth management.
Robo-advice
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Australian regulator publishes digital advice guide
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.
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Robo-advisers will take years to be profitable, warns report
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.
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UK fintech start-up to launch straightforward robo-adviser
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.
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ETF robo adviser to launch in Hong Kong
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.
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IFAs stress that robo-advice is not the answer
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.
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Most UK advisers unconcerned about robo-advice
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.
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UK robo-advice financially unviable, warns investment firm SCM
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.
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UK adviser profit growth under threat
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.
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HK rules seen as bottleneck to rise of robo-advisers
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.
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Robo-advice: Are you 0110101 joking?
“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.
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Half of UK advisers offer clients 24hr portfolio access
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).