{"id":27148,"date":"2014-08-19T21:15:34","date_gmt":"2014-08-19T11:15:34","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=27148"},"modified":"2022-11-22T15:43:23","modified_gmt":"2022-11-22T05:43:23","slug":"five-tips-to-counter-the-virtual-adviser","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2014\/08\/19\/five-tips-to-counter-the-virtual-adviser\/","title":{"rendered":"Five Tips to Counter the Virtual Adviser"},"content":{"rendered":"

Business Health<\/a> has sent a potentially important message to advisers about how they can maintain their relevance and compete against the emerging reality of ‘virtual’ financial advice.<\/p>\n

In its August newsletter<\/a>, the firm has alerted Australian advisers to new offers in the US market, where it also consults, that automate financial advice and deliver it within an online environment.<\/p>\n

Termed the ‘Robo Adviser’ by US media, this emerging service seeks to differentiate itself and add value to prospective customers by automating the traditional advice process and delivering an equivalent outcome for a fraction of the price.<\/p>\n

…this emerging service seeks to differentiate itself and add value to prospective customers by automating the traditional advice process<\/p><\/blockquote>\n

Business Health cites two such services, with the catchy names of ‘Wealthfront<\/a>‘ and ‘Betterment<\/a>‘, both of which seek to deliver ground-breaking, virtual financial advice.<\/p>\n

Assessing these offers, Business Health has determined these services offer a complete automation of the financial advice process, including:<\/p>\n