Robots can't read your dreams, advice firm warnsBY LAURA MILLAN | WEDNESDAY, 23 SEP 2015 12:03PMRobo-advice is potentially damaging for the advice sector, as it's hard to replace a human's ability to discuss a client's dreams and aspirations, an advice group has said. Related News |
Editor's Choice
L1 Group sells Platinum's responsible entity to Equity Trustees
|L1 Group has offloaded Platinum Investment Management Limited (PIML) to Equity Trustees (EQT), handing over the responsible entity (RE) role for the Platinum funds while keeping investment management in-house.
LGT poaches Koda Capital's top-rated adviser
|LGT Wealth Management has poached Koda Capital's 2025 top-rated adviser and partner Frank Macindoe.
CareSuper rejigs beneficiary nominations, investment options
|CareSuper has introduced several changes to its investment options and beneficiary nominations.
Fortnum pays $1.35m to settle ASIC lawsuit
|Fortnum Private Wealth will pay a penalty of $1.35 million and ASIC's costs to resolve legal proceedings against the firm over a cyber governance matter which occurred between April 2021 and May 2023.
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Cliff Man
CHIEF EXECUTIVE OFFICER
ETF SHARES MANAGEMENT LTD
ETF SHARES MANAGEMENT LTD
ETF Shares chief executive Cliff Man spent his career automating, building and challenging established systems. Now, he is betting that Australia's ETF market has room for something different. Vinny Vucago writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
So, the writer believes that "People planning for retirement need to consider whether they are content with obtaining recommendations about their future based on mathematical formulas from a computer or whether they prefer an individualised, personal recommendation,"
"It's hard to replace having the ability to talk to someone face to face, discuss your dreams and aspirations and have someone recommend a personalised retirement plan that is specific to your needs."
So if you do not use mathematical formulas to create wealth, what do you use to create these formulae: a magic 8 ball?
Any adviser who does not embrace RoBo will be left out in the cold IMHO as personalize advice within the digital space is already here.
The game won't change, just the way it is interacted with and viewed - get on board while the ticket price is low I say.