Not much comes for free these days, especially expert advice.
But one Australian startup is offering just that, and has attracted a former Nine executive onto its advisory board.
The Echofied app allows anyone to publicly but anonymously post questions on topics ranging from home loans, real estate, superannuation, insurance, legal, accounting to business. A horde of independent experts on those industries then answer the enquiries.
“We have all probably been guilty of putting off asking questions because there aren’t enough hours in the day or we just don’t know who to ask,” said founder Paul Ryan.
“Echofied takes away that stress because you can post a question before you go to bed and have a variety of expert answers by the time you wake up.
“So rather than rushing home for an appointment and waiting for people to return your call, consumers can use Echofied to finally get answers quickly, seek second opinions, and allow other professionals to make comments on whether they are receiving the correct information.”
The startup scored an expert coup of its own today, appointing ex-Nine Entertainment head of revenue Peter Wiltshire onto its advisory board. The media industry veteran also has stints at Network Ten and Southern Cross Broadcasting on his resume.
“Echofied is a game-changer because there’s nothing else like it on the market,” said Wiltshire. “There’s a lot to like about how this business is working and is positioned for growth and scale.”
The incentives for the experts to participate include building up their own profile and nabbing potential business leads. However, the anonymity of the question posters mean they cannot be contacted directly to be sold to — contact can only be initiated from consumer to business.
“Users can see all the questions and answers on the community platform. It’s like a library of information to review answers, like the information, and even follow and monitor the professionals who continually provide valuable expertise,” said Ryan.
According to Echofied, the kind of questions already answered on the platform include:
- What are the best options for entering the home market with a low deposit without being locked into high interest fixed loans?
- How much of my super can I access before retirement?
- If selling 50% share in an investment property, how is the capital gains tax calculated?
- I just started my own business and want some some advice of when I need to get an ABN and register for GST.
- When is the ideal time to refinance a home loan?
- What does it cost to set up a SMSF?
- Both my husband and I are currently employed and earn a steady combined income. I’m considering leaving work and commencing a start up business and wish to obtain a business loan to add to some savings. What implications do I need to consider?