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New platform tackles affordability of advice issue

New platform tackles affordability of advice issue
Neil Griffiths
03 December 2021 — 1 minute read

Fiduciary Financial Services has launched a new digital advice platform.

The group said its moneyGPS service is Australia’s first “fully client-led, digital (single topic) advice platform” that addresses the lack of accessibility and affordability of financial advice issue.

“We all know the stats, the ‘mass-market’ of millions of working Australians who have unserved advice needs – because they cannot afford the cost of traditional financial advice. Until now, it has just been too hard a problem to tackle,” Fiduciary said on Thursday (2 December).


“Fiduciary’s technology changes all of that, in providing everyday Australians with access to ‘easy to use, compliant and affordable personal advice.’”

The moneyGPS platform, which has been tested and refined alongside H&R Block, is fully compliant with regulatory requirements, assists super fund trustees in meeting retirement income covenant requirements, supports intra-fund advice services and can be fully configured under a SaaS agreement.

The move comes after the chief commercial officer of financial advice software provider Midwinter called on advice businesses to be more innovative with technology in an effort to improve access to advice.

“To do this they need confidence around where the boundaries sit around scoping advice, what is in and out of scope and what level of effort is required beyond that,” Steve Davison said on a recent episode of the ifa Show podcast.

“The client may want something that is very simple at the moment, but some of the regulations could be interpreted that you have to ask more questions than perhaps what the consumers are really wanting to ask or have done.”

Listen to the full episode with Mr Davison here.




Tony Zhang

Tony Zhang

Tony Zhang is a journalist at Accountants Daily, which is the leading source of news, strategy and educational content for professionals working in the accounting sector.

Since joining the Momentum Media team in 2020, Tony has written for a range of its publications including Lawyers Weekly, Adviser Innovation, ifa and SMSF Adviser. He has been full-time on Accountants Daily since September 2021.

New platform tackles affordability of advice issue
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