Diversified financial services group Omniwealth has teamed up automated investment advice provider Republic Wealth to launch a new automated online investment service in Australia.
Dubbed OmniwealthDirect, the new robo-advice tool allows accounts to be opened in 10 minutes and enables automatic investment processes after funds are transferred.
OmniwealthDirect clients are allowed to invest in ETF model portfolios from leading providers including Blackrock, Vanguard and iShares. Investor receives an SOA and MDA agreement at the end of the process.
Omniwealth group managing director Matthew Kidd said: "Non-advised investments such as Omniwealth Direct work hand in glove with advised portfolios as it allows us the ability to service all investors and not just those who can afford direct advice.
"We are certain of the success of automated advice in Australia because of the strong take-up in the US where US$30 billion of investor funds have already been placed into large, automated advice models over the last three years."