South Africa’s Inkunzi launches new robo-adviser app

Added 19th October 2016

South Africa’s Inkunzi Wealth Group (IWGSA) has launched a robo-advice tool aimed at the country’s professionals.

South Africa’s Inkunzi launches new robo-adviser app

The tool, available as an app, has been customised to take into consideration South Africa’s early stages of global investing patterns, said the Johannesburg-based investment company in a statement on Tuesday.

“Most available internet based advisor tools do not come with the personal touch that the maturing South African investor prefers.

“We wanted to design a tool that would allow the investor the comfort to know that any questions they may have about the implementation of their proposed solutions can be answered by highly qualified client advisers in our team‚” said IWGSA’s chief executive, Owen Nkomo.

Similar to UK robo-advice website Nutmeg, investing with the IWGSA is based on a seven-minute questionnaire which combined with the firm’s algorithm suggests investment options alongside relevant financial advice.

After the questionnaire has been completed, it takes between 24 and 48 hours to set up investment depending on the necessary FICA documents‚ which are used to identify investors in South Africa under the Financial Advisory and Intermediary Services Act.

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Monira Matin

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Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.

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