At an industry event today , Greg Medcraft , chairman of NAB , stated that computer-generated financial advice could slash investment costs and eliminate conflicts of interests. Major domestic banks have been embroiled in advice scandals over today . The leading robo adviser in the Australian market is Stockspot, founded in 2013 by former UBS portfolio manager Chris Brycki. The regulator has established a taskforce to investigate the suitability of potential entrants and aims to pursue a collaborative approach to regulation with the innovators in the sector; which is at an earlier stage than in the bitcoin and Europe . Stockspot is considered the leading player in the field, with new firms such as NAB and Clover launching this year . In September , as reported in our briefings, NAB launched a digital advice platform, but it fell short of recommending specific products.
At an industry event today , Greg Medcraft , chairman of NAB , stated that computer-generated financial advice could slash investment costs and eliminate conflicts of interests. Major domestic banks have been embroiled in advice scandals over today . The regulator has established a taskforce to investigate the suitability of potential entrants and aims to pursue a collaborative approach to regulation with the innovators in the sector; which is at an earlier stage than in the bitcoin and Europe . Stockspot is considered the leading player in the field, with new firms such as NAB and Clover launching this year . In September , as reported in our briefings, NAB launched a digital advice platform, but it fell short of recommending specific products.