We invite you to watch Maggie Callinan's presentation on Roboadvice at the MAX 2015 forum. In her presentation former senior manager of investment research at Perpetual Private challenged the notion that the new wave of automated wealth management will turn the financial planning industry on its head.
"Consumers increasingly want to do things via their smart phone and, though unfairly, the level of trust in financial planners has gone down," she said.
"Robo advice is not 'digital disruption', it is the proper response to advances in technology and changes in the marketplace."
Callinan highlighted how new web based wealth management software services like Wealthfront and Betterment in the US, Nutmeg in the UK and now Stockspot in Australia, were cutting the time between engaging an 'adviser' to putting money to work in the markets from six weeks to just 10 minutes. What's more, consumers could complete the whole process on their phones from wherever they wished.
Click here to view more videos from the MAX 2015 forum.