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Robo-Advice and the Future of Planning

Mark Fordree (Ignition Wealth’s CEO) discusses with the Financial Observer to what extent the rise of digital financial advice will impact the financial services industry in Australia. Will robo-advice be a help, or a hinderance?

This video was originally published by the Financial Observer.

Interviewer: Daniel Paperny

Publication: Financial Observer

A lot of the large institutions are now carefully watching each other to keep pace with the robo-advice revolution.

As robo-advice matures over the next few years, we will see a full integration across all asset classes of both assets and liabilities.

The next iteration of robo-advice will move away from an asset allocation model to a goal and multi-goal based portfolio construction.

Data analytics will lead to a more intelligent use of customer data, more detailed risk portfolios and greater relevance in the advice provided.

Robo-advice cannot remain a ‘one size fits all’ solution, it needs to be tailored to an individuals needs.