Robo Advice Must Be Same As Face to Face

Robo Advice Must Be Same As Face to Face.

The finance industry regulator, the Financial Conduct Authority (FCA) has this week suggested that the development of ‘robo’ advice i.e. automated financial advice must meet the same standards as financial advice where you speak with and interact with a financial adviser either face to face or remotely.

As many of you may know, we already offer face to face and non-face to face advice and have been working on our own automated ‘robo’ adviser for a number of years now.

We have always worked on the basis that the automated adviser must offer the same exacting high standards that we offer.  This is why our ‘robo; advice service will be a complete service rather than the over simplified models that simply categorise you as a particular type of investor risk profile or suggest a few investments funds inside an ISA.  This is simply not enough.

Update on our Robo Advice Model

We are approaching a working model now after 5 years building it.  It is likely that it will be the end of this year before we have a ‘beta’ product for you to play with.  It is a beast though!  We have built our own versions of spreadsheets, documents and other items to cope with literally millions of combinations of financial information to deliver an ‘automated’ advisory response.  This will be tailored to your own needs and requirements and whilst many have rushed to market with, in our opinion sub-standard solutions, we will only launch when we are ready.