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ARTICLE · 01 DECEMBER 2015

The computer will see you now – Six considerations for deploying robo-advice in Australia

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Traditional financial services business structures and advisers are being replaced by sophisticated computer programs.

AustraliaFinance and Banking
Michael Chaaya
Michael Chaaya
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Traditional financial services business structures are under threat from rapid digital innovation. Financial advisers are increasingly being replaced by sophisticated computer programs.

The capability of robo-advice has quickly evolved from simple website calculators to software and websites providing financial advice, portfolio construction and active investment management. It is one of the fastest growing industries in the United States and United Kingdom.

In Australia, Stockspot, InvestSMART, Ignition Wealth, Yellow Brick Road, NAB and most recently Macquarie have all embraced robo-advice. However, deploying robo-advice is not without issues. The current legal framework in particular is a minefield – the result of laws not keeping up with technology.

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