Coerced directorships a ‘difficult to address’ area of financial abuse: FAAA
In its submission to Treasury’s consultation on combatting financial abuse perpetrated through coerced directorships, the Financial Advice Association Australia (FAAA)...
In its submission to Treasury’s consultation on combatting financial abuse perpetrated through coerced directorships, the Financial Advice Association Australia (FAAA)...
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I think the below comments take the discussion out of context. I think people make the rather uneducated and ignorant assumption ‘robo-advice’ is in a less attractive traditional thinking of it. We should call it technology assisted advice delivery or something that so that those less familiar with it don’t fall into a trap of thinking these advisers are talking about delivering an SoA via a chat bot.
MyProsperity, Astute and the other similar technology available that Mark talks about is what we use too and it works. It is not for everyone, acknowledged, so we don’t force it on them. But, it can make both our job and our clients’ engagement dramatically improved.
Our practice have had great success in capturing more information. it is NOT about delivering SOAs without human intervention, in fact it is quite the opposite. We found we had HUGE reductions in admin and maintenance and got to spend more quality time with clients as a result. Is that not what it is all about?? Unless I missed something, I think that is more the context of this piece, but it could have been positioned better IFA.
What frustrates me about the below responses is that the answer put forward is to abandon our clients because they are ‘too much risk’ and a ‘liability’. Great attitude!? We ask our clients to take risk all the time. Grow a set, have a conscience and actually do your job people! If it wasn’t hard, it wouldn’t be worth doing…
Errrr. Computer says NO!…..
All I see in this video is a bunch of nodding yes people heads. Just like the ones you see standing behind silly politicians in press conferences trying to con you into believing everything they say MUST be true. HAHAHA
Is he a shareholder in the robo advice program? How can robo advice be in the best interest of the client?
Bad luck that clients hate it.
Can anyone point to any success stories of robo? Beyond just moving an existing holding into a model portfolio.
is this a serious post?
Considered out…. decided against it
advisers should just focus on wholesale clients. leave the retail clients to self serve through robo. that way no one can complain about advisers anymore. all parties will then only be able to blame the afsl and the institutions that have robo.
advisers will exclusively deal in the wholesale space where it’s superb and service the wealthy only.
then financial advisers reputation as trustworthy, honest, fair, diligent, competent will be abundantly evident.
we will be free at last. free at last.
abandon retail clients now!! they are a liability. let robo deal with them.