Robo-advice: The democratisation of professional financial advice

Monday, October 23rd 2017, 1:13PM

Kiwi Wealth says helped initiate the recently introduced changes to allow robo-advice after it formally applied to the FMA for an exemption in March while developing its Future You platform for KiwiSaver members.

“We’ve long seen the potential for technology to deliver better personalised financial advice to Kiwis,” Kiwi Wealth senior manager, Digital and Innovation Ramesh Naran, says.

“We developed Future You as a solution to better engage people in financial planning for retirement and help them make the right decisions at the right times to achieve their goals.

He says now the FMA has made changes Kiwi Wealth will go through the application process and turn Future You into the powerful, personalised tool it's designed to be. It’s already on its way to becoming the platform that’ll set the industry standard.”

“Given the sheer number of KiwiSaver members, technology is the optimal way to engage, educate and empower them to take action when they need to. We see it as the democratisation of professional financial advice that everyone can benefit from.”

Tags: kiwi wealth KiwiSaver roboadvice