Miscellaneous
Robin Powell interviews Harry Chemay, co-founder of Clover, a robo-adviser based in Melbourne, Australia. Harry talks about his career in that financial industry and how he came to realise that traditional asset management and financial advice were failing consumers. Harry says: “The investor takes the risk, the investor puts all the money down, and the investor should get the lion’s share of the return from the market. But it just doesn’t happen. I thought there’s something fundamentally wrong here.” Harry talks about robo-advice and how it will never replace face-to-face advice from a good adviser. He also discusses the shocking revelations that came out of the Royal Commission into Australian financial services.