The AFA has partnered with a robo-adviser to assist financial advisers reach clients they previously couldn't as well as demonstrate the benefits of robo-advice.
Announced at the Association of Financial Advisers' 2017 National Adviser Conference on the Gold Coast, the partnership is seen as a simple solution to a wide problem for Australians.
AFA general manager member services, partnerships and campus Nick Hakes said: "We want more Australians to experience the great benefits financial advice can deliver to their lives and to their families."
"We are partnering with Map My Plan because it helps people solve a simple problem initially and then makes it easier to start on their personal advice journey," he said.
Map My Plan for Advisers is a robo-advice initiative, an online platform that helps people build engagement in the financial advice journey. It has already been employed in financial advice businesses and some larger corporations, and now the AFA is bringing the fintech to its members.
It is expected advisers will be able to utilise the partnership to help connect with potential new clients who may not be sure if they need advice or may question the value of advice. The idea being advisers can discover new opportunities and attract new clients at a minimal cost, growing their client base while servicing those clients who are ready for advice.
Map My Plan chief executive Paul Feeney said: "We are delighted to partner with the AFA to help improve the financial fitness of every Australian. Map My Plan for Advisers empowers advisers to improve financial literacy, leads to better conversations with existing and prospective clients, and importantly, frees advisers up to focus on delivering the strategic advice that people really value, when and where they need it."
Advisers attending the AFA National Adviser Conference are being offered a free 30-day subscription to Map My Plan for Advisers, if they apply before 15 October. There are also other benefits on offer for delegates at the conference.