Fintech launches robo-planner for SMSFs

SMSF Robo advice ASAP

3 November 2016
| By Hope William-Smith |
image
image
expand image

Australian fintech start-up, A.S.A.P, is launching a digital advisory platform for SMSFs in response to the removal of the accountants' exemption from the financial services licensing regime.

A.S.A.P chief executive, Jim Hennington, said that the eponymous platform had been developed to fit the changing needs of SMSF clients and accountants.

"We… have found a way to use technology as the elegant solution to disruptive changes in the law," he said.

"It helps SMSF trustees and their accountants, while supporting an important public policy objective."

Hennington said plenty of SMSF accountants had yet to decide whether to refer client questions to licensed advisers in the period from 1 July, or whether to become licensed themselves.

"Self-managed super trustees like to make their own financial planning decisions with the input of tax advice from their accountant — who now need to become experts in the technical rules and what is in and out of licensing scope," he said.

"Accountants need to weave this new compliance responsibility into their client conversations without losing their trust and engagement."

The platform would incorporate proprietary software cool, CoCo, at the forefront of its online service;

Hennington said: "CoCo allows the platform to seamlessly integrate with existing SMSF client consultation processes."

"[This] saves an enormous amount of time and money for SMSF trustees compared to the conventional accountant's referral."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

2 weeks 6 days ago

Interesting. Would be good to know the details of the StrategyOne deal....

3 weeks 3 days ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

1 month 2 weeks ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 weeks 2 days ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

3 weeks 2 days ago

Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best ...

1 week 2 days ago

TOP PERFORMING FUNDS