Bouris launches Guru

first_img“There is room for everyone in this trillion-dollar market,” Yellow Brick Road chairman Mark Bouris said whilst launching his new tech financial planning platform Guru on Wednesday.The financial calculation system – described as being half-way between “robo advice” and traditional financial planning, spits out forecasts for financial prospects based upon the user’s personal details and financial data.Targeted to appeal to the 80 per cent of consumers currently not serviced by a traditional financial planner, Guru promises to assist millions of Australians to keep track of their cash flow, obtain loan comparisons, plan their investments, and manage their superannuation.“We’re nakedly taking aim at the financial planning industry, spending more than we’ve ever done,” Mr Bouris told Business Insider.“We want to get to the millions of people who don’t think they need advice … the time is right. Financial planners and the [financial] industry is on the nose. Traditionally banks push products. This is turning that around and saying ‘we’ll give you the tools to determine your hopes and dreams, and then see if we fit into it’.”YBR spent 18 months developing the system. Many financial services comparison tools using data integration are available free online but Guru will only be available through YBR branches. Customers looking at their future retirement positions are seen as a key market for the system.While Gurus’ initial consultation is free, it costs $900 to implement Guru’s integrated plan, and a $600 fee annually thereafter. Users also have the option after the first consultation to take their Guru analysis to other advisors. Facebook Twitter: @NeosKosmos Instagramlast_img

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