Robo-adviser cuts fees to zero
Automated investment adviser and fund manager, Stockspot, said it has eliminated advice fees for investment portfolios under $50,000, so more Australians could access advice.
Automated investment advice, or robo-advice, had grown in popularity in the US and UK, to US$50 billion funds under management.
Stockspot founder and chief executive, Chris Brycki, said: "We eliminated the annual advice fee for all clients investing less than $50,000, with less complex advice needs. Clients need the same quality personalised investment recommendations, but lower fees help them grow their savings faster and encourage more Australians to invest".
"If we can attract more people to invest through lower and fair price structures we're achieving what we set out to do," he said.
Recommended for you
The possibility of a private credit ETF is looking unlikely for now with US vehicles seeing limited uptake, according to commentators, but fixed income alternatives exist that can provide investors with a similar return.
Ahead of the approaching end of the financial year, State Street has shared five tips for advisers who are using ETFs in their client portfolios.
The use of active ETFs in model portfolios by financial advisers is a key factor in the growth of the products for iShares, according to BlackRock.
Global asset manager BlackRock has identified bringing private markets to the wealth channel as a key business area for the firm that could generate US$500 million in revenue in the future.
