Macquarie targets DIY investors with online advice
Australians who do not receive financial advice are being targeted by Macquarie Wealth Management, with its online OwnersAdvisory service.
Macquarie Wealth Management chief investment officer, John O'Connell, said the online advice model would make quality advice, market updates and insights available to do-it-yourself and self-managed super fund investors.
"We want to encourage unadvised Australians to become more engaged in managing their finances and investments," he said.
"Technology is offering investors new opportunities to manage their investment strategies online, and they want quality advice and market insights to guide their choices.
"This is an exciting opportunity for consumers. OwnersAdvisory combines technology with Macquarie's vast market intelligence, insights and advisory expertise to inform and engage investors currently operating without traditional advice."
O'Connell said the service would enable users to access general advice, regular market insights and a portfolio health score, based on Macquarie's reviews of investment products.
He added that users will be able to execute trades and implement their advice with any provider and will not need to open or move their funds to a new account to participate.
AUTHOR
Nicholas O'Donoghue
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
