Franchise touts robo-advice tool

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A franchise financial services company claims its new tool puts it at the forefront of “robo-advice”.

Yellow Brick Road has launched its modelling tool, Guru, via a challenge on The Celebrity Apprentice Australia. The challenge saw contestants in the reality show engaging the public at a suburban shopping centre and seeking to sign up them up for a Guru session in a Yellow Brick Road branch. 

The tool was introduced in a pilot program in June, and has been rolled out to more than 50 of the franchise’s branches since then.

“Our network has been quick to support the roll out of Guru due to the incredible value it provides their clients. Eighty per cent of Australians don’t have a financial plan because they see it as cost prohibitive and confusing. Guru provides a powerful introduction by breaking down those barriers and gives simple solutions without the usual price tag,” YBR executive chairman Mark Bouris said.

The tool’s user interface allows users to adjust their money flows to test how different plans could help them meet financial goals. Customers then receive a “roadmap” capturing their full financial situation, and the changes required to meet their goals.