intelliflo, a cloud-based hybrid technology platform that runs a suite of digital advice, has undertaken a full-scale expansion with the addition of a Sydney-based office.
The official launch, announced by the company on Wednesday, comes after the trial period of the Australian-adapted version of its business management solution, intelliflo office, last year.
As part of the transition, the firm collaborated with early adopters of intelliflo office to gauge whether the solution was fit-for-purpose for the Australian regulatory and tax environment. The firm said that it has since received a “strong take-up in the local market”.
Commenting on the expansion, intelliflo founder and chief executive officer Nick Eatock said: “We want Australia to have the best financial advisers in the world.”
This, he explained, starts with “world-leading software and services”.
Expounding on the value of hybrid advice models, Mr Eatock observed from the firm’s experimentation with “robo-advice”, that a digital experience that also combines access to real advisers does more to narrow the advice gap.
“Hybrid advice models that blend digital and human interaction are clearly emerging as the most effective way of delivering engaging advice.”
He added that inflation and Australia’s cost of living crisis, alongside the advice sector’s struggling capacity to take on more clients, has catalysed the growing need for affordable advice and streamlined services.
“At a time when financial advice has never been more important, many Australian financial advisers have their hands tied from helping a wider range of clients due to a lack of time, resources, and cost-effective solutions,” Mr Eatock continued.
“It can also deliver a business case for widening access to advice by increasing the commercial viability of working with clients with lower investible assets.”
Moreover, improved economies of scale through implementing technology into the advice process can break the vicious cycle of adviser numbers dropping, the cost of advice rising, and less people getting advice, he went on to say.
In 2021, intelliflo identified digitally-led advice options as growing in appeal, particularly in younger audiences.
“Cultural shifts, technology advances, and consumer preferences are changing the financial advisory experience. Financial advisers must be able to meet investors where and how they want to be met, whether that means digitally, in-person or a mix of both,” Mr Eatock said at the time.
intelliflo, which was acquired by asset manager Invesco in 2018, currently supports over 30,000 advisers worldwide and over $1 trillion advised across its platforms.
