Stockspot founder Chris Brycki’s money is on robo-advice
Chris Brycki is the man behind Stockspot, one of Australia’s first companies to offer what has come to be known as “robo-advice”. Stockspot recently made headlines after Graham Tuckwell, the Australian tycoon behind London-based ETF Securities became an investor. Brycki first came to the market’s attention in 1999 when as a schoolboy he became one of the youngest winners of a stock competition. How does robo-advice actually work and how is it different to seeing a regular adviser? The most important thing when investing is getting your asset allocation right. Not so much picking stocks or when you should be getting in or out of the market. Working out what […]
Local start-up, Stake beats US giant Robinhood to bring Australians free share trading
Stake have thrown the the Australian investment landscape into disarray by offering users simple and intuitive access to US equities, all at the lowest brokerage rates possible….$0…free. zilcho. Yes, the race to zero is over. US broker, Robinhood has over 61,000 Australians on its waiting list for zero commission trading, but an Australian start-up, Stake has beaten the Google backed venture to the line. Starting August 2017, Stake’s brokerage on trades will go to $0. Zero.stake.com.au This means Australians will: ● Invest globally more simply and affordably than the can locally. ● No longer have to invest in Banks, Miners or supermarkets ● Power the new world with their capital. […]
Fintech players winning with disappointed advisers
Newer advice technology providers have defeated their more established competitors in securing the top spot for adviser platform satisfaction, despite industry-wide disappointment in current tech options. According to the latest Investment Trends Planner Technology Report, newer platforms are gaining momentum in the industry and threatening more established players. CFS FirstChoice and BT Wrap are the two most widely used platforms among planners however newer platforms such as Netwealth, HUB24 and BT Panorama are steadily extending their market share, the research showed. In the InvestmentLink research Netwealth and HUB24 both came in as the top platforms in terms of overall adviser satisfaction for this year. CFS FirstChoice came in second, BT […]
Peer-to-peer lending remains unfamiliar for borrowers and investors
IT’S one of the fastest-growing financial products in Australia but two-thirds of us still have no idea what peer-to-peer lending is. New research by Finder.com.au has found despite the sector growing from one to eight lenders since it launched in Australia in 2012, 65 per cent of consumers don’t know about it and women are less likely than men to understand and use it. Peer-to-peer providers such as SocietyOne, Direct Money and RateSetter are fintech companies that link investors with borrowers using online platforms, typically offering better interest rates than people get from the banks. “Generally P2P providers may have fewer funds to spend on marketing,” Finder spokeswoman Bessie Hassan […]
CashDeck and MyMoney partner to educate on wealth management
CashDeck today announced that it has signed an agreement with MyMoney to provide personal wealth management software and financial education to over 1000 of MyMoney’s clients. The partnership will help MyMoney’s clients better understand their spending habits, allowing them to know at any given time what their money is doing. Graham Chee, Founder and CEO of MyMoney, a business that specialises in financial service solutions for self-directed clients, said he has recognised a noticeable shift in client behaviour in recent years. “Where once clients left everything in the hands of an adviser, these days they want to be across their finances and take more responsibility for their outcomes alongside their […]
Bitcoin civil war heats up ahead of key software upgrade
It’s time for bitcoin traders to batten down the hatches. The notoriously volatile cryptocurrency, whose 160 per cent surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet. Blame the bitcoin civil war. After two years of largely behind-the-scenes bickering, rival factions of computer whizzes who play key roles in bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month. That has raised the possibility that bitcoin will split in two, an unprecedented event that would send shockwaves through the $US41 billion ($53.8 billion) market. While both sides have big […]
‘Secret millions’ of a cryptocurrency trader
An unknown cryptocurrency trader turned $55 million of paper wealth into $283 million in just over a month. The only clue about this person or persons, beyond a virtual wallet with the identification code 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184, surfaced on a June 11 Instagram posting, in Indonesian, in which he or she (or they) (or somebody posing as them) boasted about the 413 percent profit accumulated earlier this year from ether, the digital money of the Ethereum blockchain. “I get many private messages asking how much ether I have,” the post read, alongside photos that purported to be the hardware powering a mining operation but looked lifted from another website. “One of the […]
