The wealth management firm is harnessing digital tech. to help clients work out if certain ways of managing money are suitable.

Ignition Wealth, the Australia-based firm, is rolling out a digital tool enabling clients to work out if they are suitable to invest in a self-managed super fund of the kind that exists in the country’s retirement system. 

The Ignition Wealth SMSF Appropriateness Tool educates clients about what they must do in managing such a fund as well as the potential pitfalls. Based on answers to questions, the tool will let a person know if such a fund is suitable.

The launch of such a product highlights how digital tools, in this age of the “robo advisor”, are being used by wealth managers to help figure out what sort of investments are suitable for clients, or not. The issue of suitability remains a high priority also for regulators cracking down on slack advisory standards in Australia, and elsewhere.

The wealth management firm said it “operates a unique robo-assisted model” which allows customers to access a “hybrid of the best of digital and traditional advice”. Customers have the option of self-serve, some support or full advice from their own adviser or from Ignition Wealth’s in-house team of advisors.

Advisors, accountants and investors using BT Panorama will have access to digital and full-service financial advice powered by Ignition Wealth from quarter three of 2017.