Digital solution launched for younger clients
![online investment platform image](https://moneymanagement-live.s3-ap-southeast-2.amazonaws.com/s3fs-public/field/image/online%20investment%20platform-300.jpg)
![online investment platform image](https://moneymanagement-live.s3-ap-southeast-2.amazonaws.com/s3fs-public/field/image/online%20investment%20platform-300.jpg)
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.
Recommended for you
Submissions and nominations have opened for the inaugural Momentum Media Australian AI Awards 2024, which champions the wealth management industry for contributing to the dynamic field of artificial intelligence.
The financial advice firm has appointed an Aware Super executive to join its platforms business in a newly created role aimed at enhancing and accelerating its retirement capability.
Technology company Iress has revealed the findings of its internal investigation following a cyber incident earlier this year which affected its OneVue business.
Financial software provider Bravura has extended the term of its chief commercial officer as it seeks to finalise work on its transformation program.
Add new comment