About the Digital Advice Group
20 May, 2017
In 2021, Holly Mackay, our Boring Money CEO and Founder, co-founded the Digital Advice Group (DAG) to try and tackle the growing advice gap in the investment sector. Amongst other founders wereDestination Retirement, and Netwealth, both of whom offer digital advice services today.
When DAG was launched, it received widespread publicity, with coverage from International Adviser, the FT Adviser and the Professional Adviser. But, sadly, too many investors are still unaware of digital advice as a low-cost alternative to traditional advice. This is despite the fact sentiment towards the digital option has changed dramatically since before the pandemic. For example, in 2019, just 25% of investors said they were comfortable receiving advice via videocall; by 2022, this figure had risen to 60%.
Having spoken with consumers for years, we know there is a growing appetite for this type of financial advice - with cost, access and convenience being the key factors. By working with digital advice providers - some of which are among the largest asset managers in the world - we're confident we can spread the message to consumers much faster to help them make better financial choices.
“Most consumers are unaware that their advice options have expanded, opening up financial advice to younger people, to people who want to pay less, or to people who want a more convenient, digital solution which can be done largely from the comfort of their own home. It's our mission to spread the word and to support confident choices.”
Holly Mackay, Boring Money Founder and CEO
