Superannuation Warehouse is an accounting firm and do not provide any financial advice. All information provided on this page has being prepared without taking into account of the Trustees’ objectives, financial situation or needs. The purpose of this page is to introduce Trustees to the different types of financial advice in the market.
Robo advice are financial advice given to clients online with minimal human intervention. Clients are provided with the optimum investment portfolio generated using their answers to a series of questions posted to them by the robo advice software.
Clients of robo advisors are required to answer a series of questions online, such as their income, expenses, assets and liabilities, investment goals and risk profile. The robo advisor software will then allocate, manage and come up with the optimum investment plan based on the answers that the client has provided. The client has the responsibility to update their information with the robo advice software when their circumstances change over time to ensure that the advice still fits the need of the client.
Obtaining robo advice generally requires a lower fee than traditional financial advice as minimum human labor is required. Clients might be charged a subscription fee for ongoing service, such as regular newsletter or updates on their investment plans.
An example of a robo adviser is Six Park. For more information on Six Park, please see here.