SWU Group launches online investing service
Financial adviser and fund manager, Simon Wu, has launched an online investing service, SWU Online Invest, to help close the advice gap.
The service would give mass market Australian investors access to four diversified investment portfolios.
Wu, who founded SWU Group, had over 35 years’ experience in the industry and was founding chair of Premium Wealth Management.
Wu said: “Personal financial advice provides a wonderful outcome for clients, however, increased regulatory obligations imposed on financial advisers in recent years means the costs of traditional ongoing personal advice services has gone up dramatically, making it increasingly unaffordable to most Australians.
“We needed a digital solution to reach everybody else- those wanting to obtain professional investing expertise from a trusted provider, for a lower cost, via a few simple clicks.”
The portfolios would be managed by Jonathan Wu, fund manager at Premium China Funds Management, and be delivered via a partnership with Melbourne-based fintech platform Openinvest.
Paul Harding-Davis, an investment committee member at SWU Online Invest and chief executive of Premium China Funds Management, said: “The past two years have seen a massive increase in the number of people investing in the stockmarket via cheap trading apps. Unfortunately, it’s extremely difficult to invest sensibly that way- and the barrage of ads telling people that share trading is fun and sexy don’t help.
“History shows that the only smart way to invest is via professionally-managed, diversified portfolios and that’s what SWU Online Invest offers.”
AUTHOR
Laura Dew
Recommended for you
Evidentia’s chief investment strategist Nathan Lim has announced his retirement after a 30-year career.
GQG Partners has marked its fifth consecutive month of outflows as its AI concerns lead to fund underperformance but overall funds under management increased to US$166.1 billion.
Apostle Funds Management is actively pursuing further partnerships in Asia and Europe but finding a suitable manager is a “needle in a haystack”.
Managed account provider Trellia Wealth Partners, formed from the merger between Betashares and InvestSense, has appointed its first managing partner.
