More investors want to be hands-on with their portfolios
Some investors want to "dip their toes" into the investment world by comparing their asset allocation and performance with those of their peers.
SelfWealth managing director Andrew Ward says his online tool has garnered interest from not only high net worth (HNW) clients with self-managed superannuation funds but less experienced investors looking to compare their portfolio returns with those of their peers.
With the SelfWealth model working on a flat subscription fee, Ward said there has been quite a number of Generation Y investors looking to "dip their toe in the water" and research the types of assets they might want to hold without incurring the more traditional fees of fund managers, financial planners and administration platforms.
"Then you've got the HNW individuals with SMSFs saying, 'I've got 20 per cent of my portfolio in equities, I really would like a tool to work out how to manage that correctly'," he said.
According to Ward, direct investors may possibly be SelfWealth's biggest market in the next few years thanks to social media, but at the moment the business was focused on winning distribution deals with intermediate-to-large accountancy groups like WHK.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
