SMSF: How digital advice can benefit the SMSF sector and Australia’s growing appetite for financial guidance

There has been significant movement in the digital advice space over the past decade. As the industry accelerates its efforts to address the undersupply of financial advice, digital solutions are essential to meet the demands of Australia's 12.9 million financial advice beneficiaries.

In this episode of the SMSF Adviser podcast, host Keith Ford talks to David Barrett, an independent consultant with a wealth of experience in the industry, to delve into the evolving landscape of digital advice for SMSFs.

Barrett highlights a recent partnership between a digital advice provider and a major institution, showcasing the industry's progress. While the initial iterations of digital advice have been simplistic, they have laid the groundwork for more complex solutions in the future. However, when faced with complex scenarios such as defined benefit schemes, digital advice may still require human intervention.

Listen as they discuss:

• The role of digital advice in SMSFs.
• Challenges and drawbacks of digital advice.
• Legislative agenda and future considerations.