Business services partner, Entireti, and licensed digital advice platform, Otivo, have entered a strategic alliance to build a scalable, low-cost solution to meet the needs of consumers across the advice continuum.
As part of the alliance, Entireti and Otivo will combine their IP and resources to develop a simplified, flexible and integrated advice offering that can cater to a broad spectrum of needs including episodic and limited scope advice, and enable consumers to move along the advice continuum, in both directions, as their needs change.
According to Neil Younger, Entireti Group Chief Executive Officer, the advice industry has a social and moral obligation to share its knowledge and collaborate to make quality advice accessible and affordable to more Australians.
“We know that quality financial advice changes lives and can deliver confidence and certainty but cost is still the biggest inhibitor,” he said.
“Advisers have the answers and guidance that people need and want but advice is currently out of reach for the average Australian, which is why Entireti is highly supportive of reforms that encourage and foster the development of new and innovative advice models, including scaled, episodic and digital advice.”
“We are excited to work with Otivo to try and close the advice gap and give consumers clarity, control, and choice in how they engage with financial advice.”
Paul Feeney, Founder and Chief Executive Officer of Otivo, said the alliance bought together two like-minded organisations in an effort to create better financial futures for more Australians.
“Otivo’s mission is to make high-quality financial advice accessible, affordable and scalable, and Entireti is the ideal partner to help us bring this vision to life,” he said.
“This alliance sees us combine our respective strengths to achieve that seemingly elusive continuum of advice that gives people choice about how they engage and obtain advice. People need access to good advice and this partnership will create exciting opportunities to deliver it to many.”
While the majority of Entireti’s advice practices specialise in comprehensive ongoing strategic advice, Younger said the group’s position as one of Australia’s largest service partners to advice businesses required it to step up and play a leadership role in solving the advice dilemma.
“The massive task of building an impactful, thriving advice profession, including replenishing adviser numbers, isn’t only the job of politicians and policy makers,” he said.
“It requires a multi-faceted approach and greater investment in people, systems and technology by all participants including advice groups and service providers to the industry.”
“Entireti and Otivo are focused on delivering technology-led advice solutions that can help people get their financial lives in order and succeed in a changing environment.”
About Otivo
Otivo is a licensed digital advice platform making affordable, accessible financial advice available to all Australians. Already trusted by superannuation funds like Colonial First State and corporate clients like Suncorp and Medibank, Otivo empowers financial planners to scale advice delivery through personalised strategies delivered via a simple, secure web interface. The platform covers super investment advice, personal insurance, contributions, and debt — backed by automatically generated Statements of Advice (SoAs).
Otivo.com
