‘Blended’ advice key to meeting investor needs
A Macquarie University review of industry surveys has found that a ‘blended’ approach to automated and face-to-face financial advice will serve Australian investors best. Macquarie University senior lecturer and director of the university’s Chartered Financial Analyst (CFA) Institute partnership program, Dan Daugaard, said a blended business model is likely to accommodate the evolving demand of investors for different forms of advice. According to the CFA Institute's fintech survey, published in April 2016, mass affluent investors are the most likely to be positively affected by "automated advice tools in the form of reduced costs, improved access to advice and improved product choices".