The future of digital financial advice: Accessible, conversational, and designed for everyone

It understands you – because you’ve told it about your life, your goals, your fears and your financial situation. It also understands the rules of the game – government regulations, tax systems, super rules – and blends that with your aspirations to provide simple, actionable guidance. And unlike traditional advice, which can be out of reach for most people, digital advice is built to scale – making it truly accessible to every Australian.

To me, the future of digital advice lies in its ability to replicate the human experience of getting advice. A two-way conversation. Not just a form to fill in. Not a report to be emailed. But a real-time dialogue where you can ask questions, get clear answers and feel supported – just like you would sitting across the table from a trusted adviser.

We’ve already started down this path at Otivo with Ask Otivo, our AI-powered digital advice assistant. It’s not a chatbot offering generic information – it’s a fully licensed adviser that delivers compliant, personalised and timely guidance tailored to each person’s financial reality.

Even more exciting is how that conversation evolves. If you ask something we don’t yet know the answer to, the system doesn’t crash or freeze. It simply responds: “Great question – we just need a little more info. Can you tell me about X, Y and Z?” This creates a natural and intuitive experience where people don’t feel stuck, judged or intimidated.

Eventually, conversational AI will detect tone, understand gestures and proactively prompt you based on your situation and the steps others like you are taking. That’s where advice becomes not just accessible – but deeply human.

Advice for everyone, not just the wealthy

For too long, financial advice has been seen as a service for the wealthy – a luxury item with a $5,000+ price tag. But the truth is, everyone needs help. Whether you’re figuring out if you’re in the right super investment, wondering how to pay down your credit card, or trying to save for a home, the need for good advice is universal.

That’s why digital advice matters so much. It opens the door for every single Australian – regardless of income or background – to get trusted, regulated and personalised help. It’s advice as a service, not a product. You don’t have to buy something to get it. You don’t have to worry about commissions or hidden fees. It’s just help – designed for you.

And when it’s delivered through a platform that is licensed, audited and built on proven advice engines, you can trust that what you’re getting is high quality. Not barbecue banter. Not TikTok tips. Real advice, based on real data, that helps you take the next step towards being better off.

The future of digital advice is proactive

It knows where you’re at and helps you stay ahead. Maybe you’ve told us about your car insurance and when it is up for renewal in 60 days – we’ll scan the market and come back with options that match your preferences. Maybe you’ve got a mortgage we reviewed 18 months ago – if there’s a better deal now, we’ll let you know.

All of this happens without judgement. It’s not about telling you what you shouldn’t do – it’s about helping you understand the trade-offs. If you want to buy a new car, that’s great – it just means your house might take a little longer to pay off. You stay in control and we give you the clarity to make smart decisions.

It’s also multilingual. Already, Ask Otivo can respond in your chosen language. So whether you were born in Sydney or Seoul, Madrid or Mumbai, you can engage with advice in a way that feels natural to you.

And because it keeps a record of your financial journey, you can revisit past conversations, track your progress and build a living plan that adapts as life changes.

Advice without the product push

One of the key risks with some digital platforms is that they’re really just product funnels in disguise. If the only way the platform makes money is by recommending something it sells, you’ve got to question the advice.

Real digital advice isn’t about pushing products. It’s about looking at what you already have, identifying what’s missing, and – if a product is genuinely needed – scouring the market to find the best fit for you. No kickbacks. No commissions. And if there is a commission involved, we believe it should go back to the client.

This is how we shift the entire advice model to be client-first. It’s not about wallet share – it’s about helping more people, more often, with less friction.

Advice should be omnipresent – there when you need it, how you need it. Maybe you like checking in every few weeks. Maybe you only want a nudge when something changes. Maybe you want to explore your finances with a full visual life plan. Or maybe you just want to ask a single question, right now.

That’s why the model has to be flexible. Like Netflix – pay once and use it as much as you want. Watch 20 hours a week or just dip in when needed. No extra charges. No pressure.

It also has to integrate with every aspect of your financial life – super, insurance, loans, savings, investments, even Centrelink and tax. Because your life isn’t siloed, your advice shouldn’t be either.

Supporting human advisers

So, what role will human financial advisers play in the future? The answer is simple: they become more valuable. Digital advice doesn’t replace advisers – it expands their reach. Right now, advisers can only support 85–120 clients each. They’re turning people away every week because the economics don’t work.

With digital advice, they can serve hundreds more – including the children of their existing clients, or people who just need light-touch guidance. They can stay focused on high-complexity cases while letting the digital system handle the basics. And when a client needs reassurance or clarity, they’re still there – as a trusted human partner.

The best practices of the future will blend both. That’s the true continuum of advice.

Will digital advice be able to handle complex financial matters? Absolutely. In fact, every face-to-face adviser in the country is already using digital tools to prepare their plans. Structuring, scenario modelling, projections – it’s all done digitally. The next step is making that functionality available in a self-directed, easy-to-use interface.

The key is confidence. People need to feel sure they understand what’s being said and that they’re doing the right thing. That’s why digital advice has to be conversational, educational and supportive – not just a data dump.

Will there still be situations where someone wants a second opinion? Of course. And that’s why the best digital platforms will offer escalation options – speak to an adviser, get human support, pay a small fee if needed. It’s all part of building a trusted, flexible experience.

In 2005, people asked if internet banking would ever take off. Now, no one can imagine walking into a branch to transfer money. The same will happen with advice.

We’ll look back and wonder why we ever made advice so hard to get. And the organisations that embrace this shift – who give people simple, trusted ways to engage with their money – will be the ones who win hearts, loyalty and lasting relationships.

Because at the end of the day, this isn’t about tech. It’s about people. It’s about helping Australians feel more confident, more in control and more excited about their financial future. It’s about helping people retire comfortably, support their family, or simply feel confident about their next financial step. Advice should be built around individuals – at a price everyone can afford. Nothing generic, just smart, personal and accessible. And when that kind of advice is in everyone’s hands, the impact is transformative – helping individuals thrive and communities grow stronger, one secure future at a time.

Paul Feeney, CEO and founder, Otivo.