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Yellow Brick Road’s robo-advice gets national attention

Yellow Brick Road Wealth Management's new robo-advice tool 'Guru' was featured yesterday on national television.

In a statement, the company said Guru was launched to the public via the show Celebrity Apprentice Australia, in which contestants tried to engage with people at a suburban shopping centre and have them sign up for a Guru session.

The challenge was judged by Yellow Brick Road executive chairman and Celebrity Apprentice boss, Mark Bouris. The program aired yesterday night on Channel 9.

Mr Bouris said the show "offers us an excellent platform to show people that there are simple things they can do to create a secure financial future for themselves".

Guru was introduced on a pilot basis in June and has since been rolled out to more than 50 Yellow Brick Road branches. The sessions, with an initial one free to customers, calculate the user's likelihood of achieving their financial goals based on their situation today, the statement said.

The user can also pull levers to adjust their money flows to learn how they can change their future. In addition, all customers receive a roadmap that shows their full financial situation and the changes required for them to achieve their goals, the company said.

"Our network has been quick to support the roll-out of Guru due to the incredible value it provides their clients. Eighty per cent of Australians don't have a financial plan because they see it as cost-prohibitive and confusing. Guru provides a powerful introduction by breaking down those barriers and gives simple solutions without the usual price tag," Mr Bouris said.