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.