The firm will use analytical algorithms and artificial intelligence on individual client and financial planner data to allow HUB24 financial advisers to cater to a wider range of clients in a personalized way.
Global asset manager Aberdeen Standard Investments will provide Australia-based investment and superannuation platform HUB24 with its digital client engagement tools and offer retirement income solutions to its clients, the firm announced in a statement on Wednesday.
Based on similar tools developed by the firm in the U.K., the «bionic» advice solution ASI brings enables a range of different fee structures to suit individual client needs, allows advisers to better engage with their clients, increases time savings while maintaining regulatory compliance, the statement said.
ASI will also provide a range of managed portfolio solutions on HUB24’s platform to help advisers meet client savings accumulation, investment and retirement income needs.
Australia Retirement Needs
According to Jason Nyilas, ASI Australia's head of retirement and product strategy, there previously was no easily accessible mass customizable solution or sustainable framework to meet the needs of retiree Australians, a group that is set to grow from 4 million to 7 million in the next decade.
«Most super funds say they are not ready for this transition to a post-retirement world in which they will be required to provide retirement income streams that suit individual needs,» he said about the firm's offering.
