Entireti, Otivo enter strategic alliance for digital advice

Entireti and licensed digital advice platform Otivo have partnered up to build a scalable, low-cost solution to "meet the needs of consumers across the advice continuum."

The partnership will see Entireti and Otivo combine their IP and resources to create an advice offering that supports episodic and limited scope advice, allowing consumers to adjust their movements along the advice continuum as their needs change.

Entireti chief executive Neil Younger said the industry has a social and moral obligation to share its knowledge and collaborate to make quality advice accessible and affordable.

"We know that quality financial advice changes lives and can deliver confidence and certainty, but cost is still the biggest inhibitor. Advisers have the answers and guidance that people need and want but advice is currently out of reach for the average Australian, which is why Entireti is highly supportive of reforms that encourage and foster the development of new and innovative advice models, including scaled, episodic and digital advice," he said.

Otivo founder and chief executive Paul Feeney, meanwhile, said the alliance brings together like-minded organisations to create better financial futures for more Australians.

"Otivo's mission is to make high-quality financial advice accessible, affordable and scalable, and Entireti is the ideal partner to help us bring this vision to life," he said.

"This alliance sees us combine our respective strengths to achieve that seemingly elusive continuum of advice that gives people choice about how they engage and obtain advice."

He added that people need access to good advice and that the partnership will create opportunities to deliver it to many.

While most of Entireti's advice practices specialise in comprehensive ongoing strategic advice, Younger said the group's role as one of Australia's largest service partners to advice businesses required it to step up and play a leadership role in solving the advice dilemma.

"The massive task of building an impactful, thriving advice profession, including replenishing adviser numbers, isn't only the job of politicians and policy makers," he said.

"It requires a multi-faceted approach and greater investment in people, systems, and technology by all participants including advice groups and service providers.

"Entireti and Otivo are focused on delivering technology-led advice solutions that can help people get their financial lives in order and succeed in a changing environment."