Robo Adivce for SMSFs: Can we trust complex algorithms

Robo Advice

With the advent and steady growth of the self-managed superannuation fund (SMSF) sector, superannuation professionals are steeped in discussion about financial services automation and where it will lead. Some believe automated advice will be the next huge innovation, but it’s proving to be a divisive frontier.

Taking the work of human accountants, financial planners and leaving it to machines and complex algorithms sounds a little dystopian — which is probably why the concept has been dubbed “robo advice” — but companies like FinDigital want trustees and advisers, to consider the potential positives of the model. A recent survey found investors both young and old are warming to the idea.....Read More