Infocus launches free robo-advice
Infocus Wealth Management has entered the robo-advice space with the launch of earnie.com.au, a direct-to-consumer financial advice solution at no cost to consumers.
The website would leverage the capability of InFocus partners, Morningstar and Praemium.
While Morningstar had altered its investment calculation methodology for the Australian investment environment, users investing directly would do so through technology partner, Praemium.
While clients could use the website to manage their own investments, Infocus said advisers could also use it to explain financial advice concepts to clients.
Infocus managing director and chief executive, Rod Bistrow, said the website includes education and support tools for simple investing needs.
"Robo-advice (or more accurately, direct-to-consumer advice) is not about replacing financial advisers, who play a critical role in helping consumers understand and meet their financial goals," Bistrow said.
"It's about offering more Australians choice in the way they engage with advice."
Infocus provides financial advice to over 55,000 clients and manages eight sector-specific multi-manager funds through subsidiary, Alpha Fund Managers.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.