Why a digital advice association will benefit advisers

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by George Haramis, co-founder and chief executive of moneyGPS. Mr Haramis discusses what led to the formation of the Australian Digital Advice Association (ADAA), which includes moneyGPS, abrdn, Ignition Advice and Advice Intelligence, as well as how the process is progressing and the goals of the association. He addresses concerns that the advice profession has about digital advice, pointing out that with the dwindling adviser numbers, technology can help streamline the process of advice and allow advisers to service more clients. The pair also cover some of the Quality of Advice Review recommendations, including around superannuation funds offering personal advice and the ability to offer compliant advice through technology. Mr Haramis will join a panel with the ADAA's other founders at this year's Adviser Innovation Summit to discuss their goals, and how a unified and coordinated voice for digital providers can revolutionise the industry. To secure your ticket to the Adviser Innovation Summit 2023, click here.