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Three-fourths of wealth managers in Australia compete on cost with robo-advisors

With an increasing number of high net worth (HNW) investors embracing digital channels and utilising robo-advisory services, traditional banks are lowering cost to compete for market share, according to data provider GlobalData. “Robo-advisor services are no longer the reserve of the retail segment, as Australia’s rich are increasingly open to digital channels and spreading their fortunes across providers,” a press…

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