Stake drops minimum funding to $50, giving every Australian direct access to $31 trillion US share market
Australia’s fastest growing stock broker Stake has today made it even easier for Aussies to invest directly in the $31 trillion US share market, lowering its minimum investment amount from $500 to $50. The lower entry point gives even more Aussies direct access to more than 3,000 game-changing companies and shares listed in the US, including Apple, Tesla, Google, Disney, and Amazon. The move to lower its minimum investment to AU$50 is part of Stake’s dedication to remove barriers to global trading, adding to the work it’s already done offering $0 brokerage, fractional investments, and same day money transfers. The announcement follows the launch of Stake’s iOS app on 4 July, which […]
Seasoned Executive is appointed CEO of leading Fintech Macrovue
AMP-backed fintech Macrovue is pleased to announce today it has appointed Rod Bristow as CEO. Rod is a former Chief Operating Officer and alternate Managing Director of Australia’s largest online stockbroker CommSec. Most recently he was Managing Director and CEO of Infocus Wealth Management – a national financial advice, asset management and technology group. In these roles, Rod led large teams to drive substantial growth organically and via mergers and acquisitions. Macrovue will retain the expertise and capability of Founder Dr Sid Sahgal, who will move into the newly created role of Chief Operating Officer. This strategic move will provide substantial depth of capability for Macrovue to deliver on its […]
Australians essentially are trading with one hand behind their back
The CEO of a fintech start-up has said Australian traders need to consider exposure to international markets, arguing that those who do so are “several steps ahead”. Speaking to Nest Egg, the CEO of the self-described “shop for shares”, Stake’s Matt Leibowitz, said while it always comes down to strategy, Australian investors who limit themselves to local opportunities tend to be “playing with one hand tied behind your back”. Reflecting on this week’s markets volatility, he said traders need to have the tools to be able to profit from opportunities like down-turns, whether traders predict such down-turns to be a fluctuation or a trend. “Whether you want to trade long, […]
InfiniGold digital gold launches with The Perth Mint
In collaboration with The Perth Mint, InfiniGold has released the latest innovation in gold investment – a flexible digital gold product compatible with a wide range of technology platforms including blockchain. InfiniGold digital gold certificates offer institutions the opportunity to present investors with a new, secure and easy way to trade, hold and transfer physical gold. These digital certificates represent direct ownership of physical gold that is securely stored in The Perth Mint’s network of central bank grade vaults, which are located in the safe geopolitical environment of Western Australia. InfiniGold spokesman Sean McCawley said that InfiniGold certificates are the closest a customer can get to buying physical gold, in […]
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 […]
Millennials to drive huge passive funds management switch, threatening jobs
The massive generational group of Millennials will accelerate the seismic shift to passive fund management as they seek to grow and protect their wealth, costing the jobs of more stock-picking professionals, according to investment specialists. Jay Pelosky, principal of New York-based Pelosky Global Strategies, said the Millennials’ greater experience with technology compared with Baby Boomers, distrust of so-called “experts” since the 2008-09 financial crisis and debt burdens from university education, meant they were attracted to low-fee automated investing such as exchange-traded funds (ETFs) and robo advice. “There will be a much greater and sustained move towards passive investing in part because of the Millennials,” said Mr Pelosky, a former Morgan […]
Sydney robo-advisor founded by ex-UBS portfolio manager raises $3 million in series B
Sydney fintech Stockspot has secured $3 million in a series B capital raising round, the startup revealed on Thursday. Stockspot is a digital investment advisor, commonly known as a robo-advisor, and a fund manager founded by chief executive Chris Brycki, a former UBS and BlueLake Partners portfolio manager. ETF Securities founder Graham Tuckwell and Australian firm Alium Capital, which invested in HealthEngine and Nitro last month, led the $3 million round. Stockspot also revealed that H2’s Toby and Ben Heap, who were already investors, and “algorithmic trading” entrepreneur Danny Bhandari contributed to the series B. “Graham is a global exchange-traded fund (ETF) pioneer, having invented exchange traded commodities and built […]
