Six Park partners with Rollit Wealth
Online investment management service Six Park has partnered with financial wellness platform Rollit Wealth to allow the platform to include low-cost share investments.
Rollit provided a personalised view of an employee’s financial life which included property to superannuation, as well as spending analysis and exclusive shopping discounts, to encourage employees to make good financial decisions, increase savings and maximise their earnings.
Six Park would permanently drop its minimum investment level from $10,000 to $5,000, after a trial at this rate during May to August.
Nuvan Aranwela, Six Park chief executive, said the partnership with Rollit was one of a number of strategic partnerships Six Park was entering into.
“These sorts of partnerships just make sense for us because they perfectly align with our core value of helping more Australians access simple, affordable, diversified and risk-appropriate investments,” Aranwela said.
“It also makes sense for employers and their employees. As an employee, understanding and making the most of your financial position, and being able to start or grow your path to financial wellbeing is important - particularly as services like ours make investment management far more accessible to people than has been the case in the past.
“As employers, helping your team in this way makes for a more compelling and meaningful employee value proposition.”
Mark MacLeod, Rollit Wealth chief executive, said was worrying many working Australians were risking their pay cheques chasing short-term gains in the volatile COVID-19 share market
“Through Rollit, employees can now access low-cost, diversified investments guided by Six Park’s world-class investment advisory committee,” MacLeod said.
“We believe this is a great investment approach for everyday Australians seeking to achieve their financial goals.”
Aranwela said it would address a demand for more accessible options when it comes to investing.
“With low interest rates and the recent volatility in the market, many Australians see an opportunity with investment but are unsure how to take advantage,” Aranwela said.
“Some jump in with limited knowledge - that’s why we saw the Australian Securities and Investments Commission (ASIC) issue a warning to novice investors and day-traders in May – while others just miss out altogether.”
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
