SEARCH
Robo-advice likely to go mainstream by 2017
Robo-advice likely to go mainstream by 2017
Risk-profiling firm FinaMetrica has predicted that all major financial institutions will adopt a robo-advice function by 2017.
FinaMetrica made the prediction as it announced a collaboration with NBK Private Bank Switzerland that will see robo-advisory tools rolled out to NBK's private bankers by the end of the year.
FinaMetric co-founder and director Paul Resnik said the robo-advice tool was developed to deliver suitable financial advice to NBK's clients.
"We are convinced that robo-advice will have its most effective application in conjunction with personal advisers working with existing enterprise clients," Mr Resnik said.
"NBK's private banking clients on average invest close to US$5 million, despite the popular myth that most people using robos invest much smaller amounts of money.
"We expect that every major financial institution will have a form of robo-advice in the next two years.
"We believe that we offer the most defensible and reliable suitability tool set, which is at the heart of good robo-advice," Mr Resnik said.
A spokesperson from NBK said: "This robo-adviser delivers a multi-asset portfolio that meets most clients' needs.
"The process still provides flexibility to fine tune recommendations to meet customers' individual circumstances."
FinaMetrica's robo-tool is based on a 12-question scientific risk tolerance test that takes into account investors' time horizons, capacity for loss, risk tolerance, and knowledge of investments. The end scores are mapped and paired to international multi-asset portfolios.
Subscribe to our Newsletter
We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians
Your email address will be shared with nestegg and subject to our Privacy Policy
latest articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Center
- Investor Daily
- Lawyers Weekly
- Money Management
- Mortgage Business
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- Which Investment Property
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- Mortgage Business Awards
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- The Adviser Podcast Network
- Australian Aviation Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- Mortgage Business Podcast Network
- REB Podcast Network
- Relative Return
- The Smart Property Investment Show
- Space Connect Podcast
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
