robo-advice
Adviser News - Primary

The death of robo-advice

Robo-advice promised to overthrow traditional financial planning models but the future hasn’t turned out to be quite so automated. It reveals a fundamental truth about the nature of advice according to Moneysoft’s Jon Shaw. In recent years, the financial planning industry has found itself in the spotlight for all the wrong reasons. Its quality of advice has been questioned but more often than not, regulations have raised costs rather than standards. Enter robo or automated advice. The lure of low-cost cloud-based technology, powered by sophisticated algorithms, promised to slash costs and bring a high-quality advice offering to more Australians at …

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Money Management
Adviser News - Primary

Just one stop on the path to financial wellbeing

From Perth to Paraguay, we’re all speaking the same language when it comes to our financial wellbeing. But our ability to walk the talk is a different matter. Peter Malekas reflects on the evolving financial literacy journey and why it’s more important than ever for financial advisers to understand their clients. Knowledge is power, but knowing better doesn’t automatically translate to doing better. Financial literacy may be the term we commonly use but it’s financial capability that determines whether people reach their goals. The distinction may be subtle but common sense tells us that what people do often differs from …

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In the Media - Primary

Moneysoft grows team to strengthen capabilities

Moneysoft has boosted its capabilities as a leading provider of Personal Financial Management solutions with four key appointments. Miles Casbier and Indra Bhosale join Moneysoft’s sales team with a wealth of experience in financial services and client relationship management. Craig Fletcher joins the team to head up process and delivery management and Ann Cook joins Moneysoft’s marketing team to help drive growth and continue building the company’s strong presence in the financial planning market. Moneysoft MD and Founder, Peter Malekas said: “At a time when our business is experiencing significant growth, these key appointments allow us to bolster our overall …

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In the Media - Primary

Moneysoft analysis shows worth of financial coaching as personal debt reaches record levels

Moneysoft analysis shows worth of financial coaching as personal debt reaches record levels February 14th, 2017: High-quality financial coaching and automated tracking software can help Australians almost halve their discretionary spending, according to an analysis of Moneysoft’s client database. The ability to overhaul negative spending habits has never been more important as Australians’ total household debt recently reached a record 185 per cent of annual household disposable income. However, 101 Moneysoft clients working with a financial adviser were able to reduce their average spending on irregular discretionary items such as entertainment, travel, hobbies and existing credit card repayments from $11,400 …

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Saving Money
Adviser News - Primary

Cashflow as a service – the marketproof way to build wealth

Investment outperformance forms a key part of financial advice. But what impact can lifestyle changes, such as cutting discretionary spending, play? Investment returns may grab the headlines but saving can provide a greater bang for buck. It comes down to the mix of risk and return as the industry moves away from predominately selling investment products and increasingly towards goals-based advice. Investment success is about far more than outperforming a benchmark based on a client’s risk tolerance. That plays just a small role in helping people to build wealth in support of their specific goals over time, such as buying a …

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Connected Consumer
Primary - Smart Finance

The Connected Consumer

The age of technology has transformed almost every aspect of daily life. People are connected by more devices than ever before, with instant access to information, media, entertainment and each other around the clock. Aussies are embracing technology to become a tech-savvy bunch of consumers- and avid online shoppers to boot. The online revolution is reshaping Australians’ shopping and purchasing habits. Buying goods, paying bills and even booking services online are now the norm. Consumers are foregoing face-to-face interactions for the convenience and instant gratification of online exchanges. The 18th edition of Nielsen’s annual Australian Connected Consumers Report uncovered the following data about the nation’s online …

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2017 NY blog resolutions
Mind Over Money - Primary

Good Old Fashioned Tips for the New Year!

Christmas has come and gone yet again. Retailers rub their hands with glee after another bumper year, culminating in the inevitable silly season shopping spree. The latest figures from the Australian Bureau of Statistics (ABS) show a boost in retail sales in 2016, with an increase of 2.8% on the previous year. On the other side of the ledger, consumers nurse a lingering financial hangover from overspending. Then January 1st rolls around and we pledge to reform our ways — from fitness to finances — with a host of well-meaning resolutions. So, after a New Year’s Eve of fun, festivities …

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Adviser News - In the Media - Primary

Moneysoft receives industry accolade!

We are delighted to announce that we have been selected as finalists in the inaugural FinTech Business Awards for Financial Advice Innovator of the year as well as Personal Finance Innovator of the year. This accolade recognises a fantastic year for us, our many customers and their customers! Here’s to 2017 being another great year for us all. Read the full article here

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debt-bomb-article-image
Adviser News - Primary

The debt bomb: set to explode?

Historic low interest rates have encouraged Australians to build up record debt levels – but should we be worried? Jon Shaw analyses the Moneysoft database and finds some disturbing signs. Debt is a powerful weapon: it can build wealth or destroy it. Almost a decade has passed since a swathe of sub-prime mortgage defaults across the US kicked off the global financial crisis, highlighting the dangers of excessive debt. The world is now a very different place, but in ways few could have imagined. Australia’s household debt has climbed to a record 185 per cent of annual household disposable income …

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Christmas cash flow
Mind Over Money - Primary - Uncategorized

Bah! Humbug! Don’t Be a Scrooge This Christmas…

As Christmas — and indeed the New Year — approaches, do you find yourself still stuck in old habits of financial mismanagement? When Charles Dickens wrote his classic tale in 1843, he was motivated as much by economic desperation as artistic inspiration. He penned and published A Christmas Carol to pay off debt. The story met with instant success — selling over 6,000 copies in its first week — and has never been out of print since. It centres on Ebenezer Scrooge, the miserly main character who’s visited by the Ghosts of Christmas Past, Present and Yet-To-Come, as well as …

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