Photo: ReutersRapid technological change is driving New Zealand's investment regulator to consider fast-tracking the ability of ''robo-advice'' platforms to provide personalised investment advice in New Zealand. Internationally, there has been a rapid increase in technological solutions which enable personalised investment advice to be given via the internet without the intervention of a financial adviser. Robo-advice is the provision of financial planning services via a digital platform that provides automated, algorithm-driven financial planning services with little or no human supervision. The FMA reviewed KiwiSaver sales in 2015 which showed that most consumers do not obtain personalised advice on Kiwisaver. Under the Act, personalised advice to a retail client must be given by a natural person.

Source: Otago Daily Times June 25, 2017 18:11 UTC