Rise of the robot financial advisers
Computer programs assess your goals and appetite for risk and offer an investment
OUTvest, a wholly-owned subsidiary of short-term insurer OUTsurance, enters the South African robo-advice market today with savings products you can access via easy-to-use internet and app tools that help you set and stay on track to achieve your savings goals. This is the first robo-advice offering from a company other than an asset manager or a financial advisory firm and OUTvest believes its familiar brand and experience in reaching consumers directly will get you saving. Financial advisers were the first to bring you robo-advisers that use computer programs to advise you on appropriate unit trust fund choices on existing investment platforms - often the Allan Gray-linked investment services provider. But over the past year, asset managers Sygnia and Anchor (Bizank) have launched robo-advice services for their index-tracking and actively managed funds respectively on their platforms. And earlier this year exchange traded fund investment platform iTransact launched iTransactGO to ...
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