Demand for face to face advice still unmet

The size of the Australian market for good face to face financial advice is still such that major dealer groups are taking a very measured approach to the use of robo-advice.

That is the assessment of Premium Wealth Management chief executive, Paul Harding-Davis who said the available evidence pointed to the demand for good face to face advice not being met any time soon.

However he said there was clearly a place for robo-advice within the advisory mix but that it needed to be positioned appropriately.

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Referring to the manner in which robo advice was being viewed by Premium Wealth Management and its parent company, Australian Unity, Harding-Davis said the companies were watching the space carefully in the context of their broad service delivery to clients.



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