Ms Hume addressed the subject at the AFA Evolve Conference this week, conceding that while “no one has yet cracked the nut” of full robo-advice service, it does not harm advisers or their business.

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“And when someone cracks the nut — puts together a fantastic product — I also don’t think robo-advisers are going to replace the 18,000 or so financial advisers practising in this country,” she said.

“What robo advice and other digital tools will do is offer an alternative for people who don’t currently have access to an adviser, or who wouldn’t pay for an adviser.

“It will get young people more engaged with their finances. And it may act as a gateway to full-service financial advice.”

Ms Hume said that as young people become more affluent, they will seek out “more complete services”, which is a positive for planners.

“Robo-advice should not cause concern, it should make you excited at the opportunity you have to create a fantastic pipeline of clients for full-service advice,” Ms Hume said.

“That is the future of financial advice.”

In the same address, Ms Hume slammed news that ASIC will undertake a review of some financial influencers’ activity, saying it would be equivalent to creating a nanny state.

Meanwhile, on the latest episode of the ifa Show podcast, tech company Netwealth managing director Matt Heine said the industry needs to be “really careful” about finfluencers who are “putting out the wrong information”.

“If we look at our own business, we’ve got a team of legal and compliance people that review every disclaimer and every article, and basically every statement that comes out of the business is reviewed,” Mr Heine said.

“And I think because these influencers can build such big audiences so quickly, we do need to be really careful that the information that’s being distributed is, in fact, correct and responsible.”

Listen to the full podcast with Mr Heine here.