Basiq partners with social wealth platform Pearler

Basiq partners with social wealth platform Pearler

Events like the Global Financial Crisis and, more recently, Covid have accelerated a countercultural movement towards financial independence through forms of income outside of a salary. Alongside the growth of the gig and creator economies, millennial and Gen Z workers are investing in shares with the goal of retiring early. In 2020, over 40% of millennials and Gen Z invested in shares outside of their superannuation.

Basiq has partnered with Pearler, an investing platform with a mission of helping users achieve financial independence through long-term, passive investing instead. Rather than riding the Robinhood wave, Pearler users are incentivised to invest through low cost index funds so they can achieve long-term returns, with the performance of funds measured over a 10-year period brokerage free ETFs when users invest for at least 1 year. In a recent survey, Pearler found that 89% of their users are investing in either ETFs or LICs.

For founder Nick Nicolaides, Pearler brings together the best of robo-advice and trading platforms through an online community where investors can share and learn from each other’s journey towards financial independence.

“We’re in this period of innovation where everyone seems focused on gamifying trading by making investing exciting and getting people into the market quickly. Pearler’s focus on financial independence is more about being long-term goal oriented, not having to time the market and using diversified managed funds to help get you there. To celebrate financial independence, we bring together the automation tools of robo-advice with the choice of trading platforms through a unique social wealth platform, where users can invest as easily as possible.”

As an investment platform, Pearler promises to make responsible investing easier, always. By partnering with Basiq, Pearler has real-time and ongoing connectivity to a user’s banking information and the ability to pre-check account details and funds in preventing failed deposits for a seamless investment experience.

To make the investment experience more engaging, Pearler also works together with ‘finfluencers’ to build a community of like-minded investors, with 69% of users either reading, listening or discussing their wealth journey on a weekly basis.

According to founder Nick Nicolaides, “Right from the beginning we were showing them mockups and got them to look at what we were designing from pricing to all sorts of things. And then we took it a step further, getting insights from them on what they were sharing with their audiences. So we thought, if they’ve got a blog, Twitter and Instagram, how can we add to that?”

The result is a win-win situation, one that provides influencers and content creators with another asset to engage their audience and build their brand, whilst also providing users with the ability to follow the investing journey of those they trust. Just as Canva provides templates for designs, Pearler provides templates for investing, combining this with data-driven insights to help users make and execute informed investment decisions.

With over 15,000 users already signed up, Pearler are just about about to launch a mobile app. Head to the Pearler website to get started on your journey to financial independence.

For more on how Pearler uses Basiq to connect to pre-check account details and funds from over 100 institutions head to the Basiq website.