SEARCH
Start-up robo-advice service launched
Start-up robo-advice service launched
A fintech start-up has released a hybrid robo-advice service that it says will be able to compete with traditional financial institutions.
Maqro, a technology company for investors, has created a solution that will allow access to systematic algorithmic investment strategies online and is complemented with understanding and advice from a real person.
Co-founder Conrad Song said the innovation was ground breaking because robo-advice's strength in not having a person was also its weakness.
"For investors, it's a transparent, cost-effective way to get high-quality, unbiased advice delivered by a real human," he said.
"For advisers in a rapidly changing and increasingly competitive marketplace, it's an innovative solution they can white-label and scale to suit their business."
Maqro is hoping to enter the $500 billion robo-advice market and is currently seeking to raise $2.2 million in investment funds to help expand its offerings and products.
Mr Song said that robo-advice was a rapidly growing market and was one of the most exciting applications to come out of AI.
"By being able to gather huge amounts of information together more effectively than a human adviser - such as years of market movements, fund performance, product features and more - robo-advice is one of AI's most exciting applications," he said.
The firm has already raised $500,000 through investors and is run by Mr Song and Hue Frame, who have been joined on their advisory board by experts on the market who have worked at places like CommBank and JP Morgan.
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
- Broker Daily
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Centre
- Investor Daily
- Lawyers Weekly
- Money Management
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- World of Aviation
EVENTS AND SUMMITS
- ACE25 The Accounting Conference and Exhibition
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian AI Awards
- Australian Aviation Awards
- Australian Aviation Summit
- Australian Broking Awards
- Australian Cyber Awards
- Australian Cyber Summit
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Law Forum
- Australian Space Awards
- Australian Space Summit
- Australian Wealth Management Awards
- Australian Wealth Management Summit
- Better Business Awards
- Better Business Summit
- Broker Innovation Awards
- Broker Innovation Summit
- Budget Summit
- Commerical Finance Awards
- Corporate Counsel Summit
- Defence & National Security Workforce Awards
- Fund Manager of the Year Awards
- ifa Excellence Awards
- Lawyers Weekly 30 Under 30 Awards
- New Broker Academy
- Partner of the Year Awards
- Partner Summit
- REB Awards
- Rising Star Awards
- SME Bootcamp
- SMSF Technical Strategy Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Finance Summit
- Women in Law Awards
- Women in Law Forum
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Subscribe to the Adviser Innovation eNewsletter.
