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
ASIC cancels AFSL of Australian Fiduciaries
ASIC has cancelled the Australian financial services licence (AFSL) of Queensland-based Australian Fiduciaries, which is currently in liquidation.
Treasury expects regulators to do the heavy lifting
Treasury has released new Statements of Expectations for APRA and ASIC, with an emphasis on how the regulators should promote a more sustainable and secured financial ecosystem.
NGS Super names head of strategy
NGS Super has appointed a former ASFA committe member as head of strategy, as the fund aims to strengthen its retirement offering.
SS&C axes jobs, shifts roles offshore
US software services giant SS&C Technologies has slashed 170 Australian roles in the operations, technology and delivery teams.
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
Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
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.