Mark Bouris insists he is not trying to stick it to the financial planning industry with his new robo-advice product, GURU.
There is room for everyone in this trillion-dollar market, he says, and Yellow Brick Road’s GURU -- which kicks off today -- will chase the 80 per cent of consumers who are not currently serviced by a financial planner.
This group often think they can’t afford, won’t understand, or “don’t deserve” the expert advice that will help them realise their financial ambitions.
“The rivers of gold are in the 80 per cent and nobody’s looking after them,” Bouris says in a phone interview. “It’s legislated that these people have to get paid superannuation.”
The team has spent 18 months scrutinising the financial planning market, and is now introducing the sort of accessibility and pricing Wizard Home Loans used to steal market share in mortgage broking to advice.
Saving others from the extra mouse clicks
YBR Price at posting:
52.0¢ Sentiment: Hold Disclosure: Held
