Robo-advice service targeting accountants

Digital investment advice provider and fund management firm Stockspot has launched a specific service aimed at helping accountants meet the financial advice needs of their clients without having to become licensed.

Called Partner Program, the initiative will allow accountants to provide their clients with access to Stockspot’s robo-advice service and investment platform.

“Accountants face the same challenges and opportunities as the rest of the financial industry. They’re trying to navigate emerging technologies and work out how [they] can help them foster stronger relationships with their clients,” Stockspot chief executive Chris Brycki said.

“Stockspot’s Partner Program is an opportunity for accountants to offer a wider breadth of services and to use technology to create these deeper relationships at the same time,” he added.

Accountants using the Partner Program will gain use of Stockspot’s online dashboard that will allow them to achieve potential efficiencies in regard to tax reporting through the ability to see clients’ investment portfolios, statements, and performance reports.

Research reports and speaker workshops will also be made available to accountants who sign up to the service.

According to Brycki, the move comes on the back of feedback from accountants who wanted to provide clients with a smart investment option without having to refer them to a financial planner.

Further he pointed out accountants could have confidence in the service provided by the Partner Program as portfolios are regularly balanced by the software employed.

Brycki noted the Partner Program would most likely be very popular among accountants servicing SMSF clients.

“We believe the Partner Program will be popular with SMSF accountants as we’re integrated with Class Super,” he explained.

“We can share access to SMSF clients in Class so they can be managed by the accountant which will make tax reporting time even more efficient.”

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