• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / Advice for robots: new white paper fills in blanks for NZ industry

Advice for robots: new white paper fills in blanks for NZ industry

December 7, 2017

Myles Allan: Mosaic founding partner

Early next year the Financial Markets Authority (FMA) stands ready to welcome the first generation of fully-personalised (but potentially dehumanised) financial advice robots to NZ shores.

But what are the bots going to do when they get here? And how should the (potentially human) NZ financial services industry respond to the automated challengers when they arrive?

Until now the debate on so-called ‘robo-advice’ has been light on detailed answers to those questions.

However, in a white paper published today, specialist consultancy firm Mosaic Financial Services Infrastructure fleshes out the likely practical consequences of the imminent digital advice (DA) revolution for the NZ industry.

The Mosaic ‘Bot or Not?’ white paper – produced in association with Investment News NZ (IN NZ) – provides a working definition of DA, explores its historical roots, and the current robo-global state of affairs.

“While a latecomer to the DA party, NZ is well-placed to learn from the global experience and quickly come up to speed,” the Mosaic report says.

If the NZ market is to hit the ground running, though, the various parties involved must take a clear-eyed look at the threats and opportunities posed by DA.

“The diverse bunch of DA providers – ranging from clever start-ups to financial advisory firms to status quo institutions – set to enter the NZ market on the back of the FMA exemption need to carefully consider their strategies,” the Mosaic paper says.

The study, prepared by Mosaic founding partner, Myles Allan, lists a few of the most important questions all interested players should address before they enter the DA game.

Interestingly, offshore trends suggest the robots are unlikely to replace humans for some time yet with the ‘hybrid’ DA model – offering clients access to real advisers somewhere in the process – gaining ascendance.

“Rather than the slightly malevolent fictional world of ‘robo-advice’, Mosaic presents DA as a real-life business opportunity with a history, a present and a future,” the report says.

Click here for a free copy of ‘Bot or Not: A guide for NZ financial services firms entering the Digital Advice age’.

Print Friendly, PDF & Email
Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • Chief exits Kiwi Wealth; Mosaic names ASB ops expert as partner; T Rowe Price keeps Australasia wholesale role in the family February 28, 2021
  • Revenge against the ombudspeople: complaints body zombie legal action walks on February 28, 2021
  • Simplicity into top 10 ESG fund share for Australasia… February 28, 2021
  • … as Milford, Hyperion top Morningstar awards February 28, 2021
  • Tough calls ahead for local fixed income managers February 28, 2021
  • Boutique buoyancy management: how Ark stays afloat with more on board February 28, 2021
  • Master trusts surpass $8bn ahead of AMP passive rebirth February 28, 2021
  • T+1 and counting: why US trading systems could reach unsettling speeds February 28, 2021
  • Nature calls: under-construction financial disclosure framework to go beyond climate February 28, 2021
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Investment News

  • Chief exits Kiwi Wealth; Mosaic names ASB ops expert as partner; T Rowe Price keeps Australasia wholesale role in the family February 28, 2021
  • Revenge against the ombudspeople: complaints body zombie legal action walks on February 28, 2021
  • Simplicity into top 10 ESG fund share for Australasia… February 28, 2021
  • … as Milford, Hyperion top Morningstar awards February 28, 2021
  • Tough calls ahead for local fixed income managers February 28, 2021
  • Boutique buoyancy management: how Ark stays afloat with more on board February 28, 2021
  • Master trusts surpass $8bn ahead of AMP passive rebirth February 28, 2021
  • T+1 and counting: why US trading systems could reach unsettling speeds February 28, 2021
  • Nature calls: under-construction financial disclosure framework to go beyond climate February 28, 2021
  • Front-to-back outsourcing transforms funds management February 28, 2021

Search by Keyword

Most Recent Investment News

Chief exits Kiwi Wealth; Mosaic names ASB ops expert as partner; T Rowe Price keeps Australasia wholesale role in the family

February 28, 2021

Revenge against the ombudspeople: complaints body zombie legal action walks on

February 28, 2021

Simplicity into top 10 ESG fund share for Australasia…

February 28, 2021

… as Milford, Hyperion top Morningstar awards

February 28, 2021

Tough calls ahead for local fixed income managers

February 28, 2021

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • NZ Funds directors back on board posted on April 24, 2016
  • Funds eye bargains, self-shoppers hoard cash, KiwiSavers turn conservative posted on March 15, 2020

Sponosored Content

David-Boyle

Jumping lessons: what all investors can learn from GameStop loss

What do ‘Kiwi’ experts see for 2021?

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

David-Boyle

Charge of the lite (advice) brigade

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • Chief exits Kiwi Wealth; Mosaic names ASB ops expert as partner; T Rowe Price keeps Australasia wholesale role in the family February 28, 2021
  • Revenge against the ombudspeople: complaints body zombie legal action walks on February 28, 2021
  • Simplicity into top 10 ESG fund share for Australasia… February 28, 2021
  • … as Milford, Hyperion top Morningstar awards February 28, 2021
  • Tough calls ahead for local fixed income managers February 28, 2021
  • Boutique buoyancy management: how Ark stays afloat with more on board February 28, 2021
  • Master trusts surpass $8bn ahead of AMP passive rebirth February 28, 2021
  • T+1 and counting: why US trading systems could reach unsettling speeds February 28, 2021
  • Nature calls: under-construction financial disclosure framework to go beyond climate February 28, 2021
  • Front-to-back outsourcing transforms funds management February 28, 2021

Footer

Copyright ©2020 InvestmentNews.co.nz — All Rights Reserved ·— Terms & Conditions