Asset manager Aberdeen Standard Investments (ASI) will provide investment and superannuation platform HUB24 with its digital client engagement tools to deliver improved investment and retirement income solutions for Australians.
Called ‘bionic' advice because of the way individual client and financial planner input is married with the outcomes from analytical algorithms and artificial intelligence, the new tools will allow financial advisers to serve a wider range of clients in a personalised way, via a range of different fee structures to suit individual needs.
ASI will also provide a range of managed portfolio solutions on HUB24's platform to help advisers meet client savings accumulation, investment and retirement income needs.
This solution gives the 41% of Australians who intend to get financial advice but are put off by the perceived barriers, an accessible option"
"This solution gives the 41% of Australians who intend to get financial advice but are put off by the perceived barriers, an accessible option," saidJason Entwistle, director of Strategic Development HUB24. "No product solution to date has been successful in this segment of the market, so we are truly excited to be working with Aberdeen Standard Investments to bring this product to market."
ASI Australia managing director, Brett Jollie said the HUB24 partnership was a first step that would change the face of traditional financial planning and investing in Australia.
"Not only does it provide a means for advisers to stay connected with more clients, it will also provide advisers with the tools to support more clients with their long term savings. Baby boomers about to retire need reliable and personalised retirement income solutions.
"Improving the efficiency of the advice journey, combined with more informed decision-making and tailored investment solutions, will ultimately result in better outcomes for consumers," he said.