Australian robo-adviser expands to Ireland, hires ex-central banker

By Moriah Costa on Monday 24 July 2017

Savings and Investment

Ignition Wealth to offer its B2B services with European expansion.

Australian robo-adviser Ignition Wealth announced two appointments Monday as it sets its sights on a European expansion.

The firm is offering its B2B service in Ireland and has appointed former senior executive at the Central Bank of Ireland, Peter Oakes, to its executive team as a member of the advisory board.

“We see a strong match between our technology and capabilities and the Irish wealth demographic. Ireland has a small but concentrated population which is a great opportunity for us,” said Mark Fordree, CEO of Ignition Wealth.

The company also appointed Crowe Horwath to raise capital for the Irish business and plans to appoint a head of Ireland in August. Although the firm is focusing on Ireland, it’s looking for opportunities to expand into Europe as well as its “technology stack is both [multilingual] and multicurrency,” the company said in a press release.

Ignition Wealth offers robo-advice technology to advisors, superfunds, accountants, and others since it was founded in 2008.

“Technology will start an investor’s advice journey but often there is a pivot point where they need or want human advice. We believe that hybrid gives the consumer the best of both worlds,” Fordree said.

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