Robo-advice firm Ignition Wealth has appointed veteran investment banker Peter Meurer as its inaugural Chairman.
Meurer has more than 40 years’ experience in financial markets and has served as Executive Chairman of Asian investment bank Nomura Australia since 2012.
He first joined Nomura Australia in 2009 and was previously Vice Chairman of Citigroup Australia and Merrill Lynch Australia. Meurer has witnessed the growth of Australia’s funds management and superannuation industry from inception to today.
“The financial planning industry is facing significant cost and regulatory pressures for independent advice, which requires innovative solutions. All Australians should have access to quality financial advice at a reasonable price and Ignition Wealth’s proven technology will play a key role in achieving that goal.”
Peter Meurer, Chairman, Ignition Wealth.
Robo-advice is one of the fastest growing financial services sectors. The largest eleven US based robo-advice firms lifted assets under management by approximately 65 percent to around $US19 billion over the eight months to December 2014, according to Deloitte.
Ignition Wealth recently became the first local robo-advice firm to be granted an Australian Financial Services license (AFSL). The company’s online advice service is built on its whitelabelled financial calculators, illustrators and advice tools, which have been used by major super funds for several years.