Are you wary about listening to robo-advice? Digital advice could be a way to help those who cannot afford traditional financial advice.
However, providing thousands of retiring members with affordable advice about their super is a big challenge.
Digital advice – also known as robo-advice or automated advice – is a way of providing sound financial advice through algorithms, without the need for a face-to-face meeting. “We estimate that around 250,000 Australians will retire in the next few years and more than 30,000 of these will be AustralianSuper members,” Hancock says.
UniSuper’s general manager of financial advice Graham Eggins also says it will “closely examine” digital advice.
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