wealth management

May
12

Class partners with robo-advice provider

Class has teamed up with an SMSF advice provider, allowing accountants administering SMSFs to offer financial advice services to clients without the need for an AFSL. The partnership with Plenty Plus, which operates under its own AFSL, allows accountants to generate advice without the need for their own license. Advice fees will also be calculated per transaction with no additional sign-up or ongoing fees. Class chief executive Kevin Bungard said the importance of financial advice for SMSFs has been brought into sharp relief by the introduction of the super reforms. “The impact of the super reforms on SMSF members and other investors frequently sees them needing advice beyond tax and […]

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Fintech platform Stake wants to make investing in US stocks as easy as online shopping

There are a few particularly popular niches within the Australian fintech space, with online small business lenders to platforms allowing consumers to find and negotiate the right home loan particularly hot areas. Another is investment, with offerings popping up to target a breadth of consumers. From the likes of Acorns, which is gathering up a user’s ‘loose change’ and investing it for them, through to Brickx allowing users to invest in property brick by brick, and Stockspot using AI to help better invest its customers’ money, the choice for the consumer is vast. Adding another option to the mix is Sydney startup Stake. Founded by Matthew Leibowitz, Jon Abitz, and Daniel […]

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May
09

Australians are turning to alternative types of investments

Australians unable to buy in an overheated property market are turning to other investments to boost their wealth. As property prices in capital cities particularly Sydney and Melbourne continue to soar and returns on cash in the bank remain around two per cent, many savers have had to look at alternative ways to grow their money. KILL your debts quicker than ever before Ray Corcoran, 29, who runs his own marketing consultancy has put off buying property and instead is investing his money through a Robo-adviser — an automated investment service. After having his savings in an online account collecting interest at a rate of 1.6 per cent he decided […]

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May
09

Financial advisers should consider bitcoin as an asset class

There is no better way to understand blockchain technology than to invest in bitcoins, a digital currency that has outperformed traditional currencies in recent years, according to an industry expert. This week the cryptocurrency broke record-highs when it started trading above USD$1680 against the US dollar. As at May this year, the total market cap of the bitcoin market has more than doubled to US$23 billion since it hit the US$10 billion mark just three years ago. Australia-born chief executive of Silicon Valley-based blockchain outfit Wyre, Michael Dunworth, said for financial advisers who are trying to figure out how the industry will affect their business, there is no better way […]

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May
03

Acorns’ machine-learning feature to help millennials save money

Micro-investing app, Acorns, today launched ‘My Finances’, a new feature for Australian customers that helps them better understand and control their spending habits.   My Finances uses machine-learning to discover individual’s spending patterns and provide personalised insights into savings opportunities. It allows consumers to get an overview of their spending habits and identifying areas of wastage; such as whether a user is on track to spend more on lunch this month than last, and therefore should start bringing lunch to work.   The new features announced today were developed by Acorns Australia to meet customers’ specific demands.   “Since we launched Acorns in Australia just over a year ago, one […]
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Apr
27

BGL & SelfWealth team up to provide value added services for Accountants

BGL Corporate Solutions and SelfWealth have teamed up to provide free value added services for Simple Fund 360 clients. SelfWealth, Australia’s only flat fee brokerage solution is now fully integrated with Simple Fund 360; Australia’s leading SMSF cloud solution.  The integration gives Accountants free access to SelfWealth’s fixed fee trading solution, portfolio construction tools and stock research powered by Thomson Reuters with the ability to extend these services to their clients. “The integration is well timed” said Ron Lesh, Managing Director of BGL.  “With the early adopters of Simple Fund 360 experiencing significant time savings through automation, they are now looking to expand their services to provide more value to […]

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Apr
27

BGL & SelfWealth team up to provide value added services for Accountants

BGL Corporate Solutions and SelfWealth have teamed up to provide free value added services for Simple Fund 360 clients. SelfWealth, Australia’s only flat fee brokerage solution is now fully integrated with Simple Fund 360; Australia’s leading SMSF cloud solution.  The integration gives Accountants free access to SelfWealth’s fixed fee trading solution, portfolio construction tools and stock research powered by Thomson Reuters with the ability to extend these services to their clients. “The integration is well timed” said Ron Lesh, Managing Director of BGL.  “With the early adopters of Simple Fund 360 experiencing significant time savings through automation, they are now looking to expand their services to provide more value to […]

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Apr
26

Advisers urged to dump simplistic advice to drive growth

Financial planners need to be prepared to shed some clients and rebuild their value proposition if they are to achieve sustainable growth, according to a new white paper released by Matrix Planning Solutions and ClearView Financial Advice. The whitepaper, which has drawn on the experiences of Matrix advisers, argues that for financial planners to deal with the competitive pressures being driven by robo-advice and industry superannuation funds, they need to deliver a better value proposition. “In order for advisers to remain compliant and secure in their position as trusted adviser, they must continuously add value,” it said. “The way to continuously add value is to delve deeper into their clients’ […]

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