Foresters Financial and Tanggram partnership to pave way for new generation of investors
The member-owned financial services group Foresters Financial has expanded the reach of its Education Bond with its launch on Tanggram, Australia’s first mobile investment platform that combines a rewards scheme with capital reliable investments.
Foresters Financial CEO Emma Sakellaris says it’s an exciting development for the recently launched Education Bond, taking it to a younger investor cohort dominated by women.
“The Tanggram investment app – was launched in 2020 and has about 70,000 subscribers – has a user profile that was very enticing for us. The average age of users is 32 of which 90 per cent fall between the ages of 20 and 40. In addition, with 80 per cent being female investors, it’s obviously a demographic that we believe will be attracted to the Education Bond.
“Foresters current target market for the Education Bond are high-net-wealth investors who tend to be older. With the Tangram investment app, we believe we have a complementary strategy to tap into a new consumer market of younger, tech-savvy investors.
“Certainly, we are convinced that Tanggram, fintech pioneers in this space, is the correct investment avenue to reach this audience.”
The Education Bond offers a tax-effective avenue for families to save for and fund their children’s education, whether it be tuition fees, accommodation, travel, or equipment. It also offers flexibility via tax benefits, estate planning and generational wealth transfer.
The tax-effective benefit is made possible through the bond working as a “scholarship plan” that allows the bond administrator to obtain a tax deduction, which is passed on to the investor when they withdraw earnings to pay for educational costs.
Sakellaris says: “An education bond allows for a long-term savings plan for families to plan and invest in their future generations educational outcomes, capabilities and reduce financial stress.”
Tanggram Founder and CEO Nick Tang says: I’m absolutely delighted to participate in this ground-breaking partnership between Foresters Financial and Tanggram. “Tanggram is an award-winning smart wealth creating app designed to provide users with reliable returns and monthly income, while Foresters is steadfastly committed to delivering secure and sustainable fund management solutions for individuals across all stages of life.
“Among their outstanding offerings, the Education Bond stands out as a brilliant avenue for funding education costs. I truly believe that our shared commitment to gain, grow and secure wealth will pave the way for a new era in wealth building.”