Digital solution launched for younger clients
Portfolio management company, Peak Investment Partners, has launched an online investment solution to reach a broader demographic of clients.
Online service, Peak Invest, would offer access to the firm’s Australian Equities Growth portfolio which invested in the ASX 300 and targeted a long-term gross return of 7%-8%.
It would also offer access to its International Growth portfolio which invested in direct equities on the US and London exchanges from Q4.
Managing director, Ian Wenham, said the decision had been taken as the firm was seeking to offer its services to those who were not yet high net worth clients.
“The adult children of our clients are keen to learn and are actively looking for professional investing assistance in the early stage of their wealth-creation journey. Unfortunately, the initial upfront cos to personal advice makes this all but impossible for most of them.
“We think it’s fanciful for firms to expect loyalty from the children of existing clients later in life if their message to them today is essentially: “Sorry, we can’t help you – come back when you’re wealthy.
“The technology exists to reach and help them now, and we feel it’s part of our obligation to existing clients to have a solution for the broader family.”
He said he felt energised by the move that it would allow Peak to grow its business into market segments which had traditionally been excluded and was working on initiatives to deploy the platform.
The service was being delivered in collaboration with investment platform OpenInvest.
AUTHOR
Laura Dew
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