Many in retirement are travelling comfortably, with three key factors contributing to their happiness – good physical and mental health and enough money to enjoy life.
Perhaps the assumption that markets are still anchored by predictable economic policies needs to be challenged. For the first time since the fall of the Berlin Wall, political volatility – once background noise – is potentially reshaping investment risk at a structural level.
Fintech platform OpenInvest democratises access to leading managers
OpenInvest is a Melbourne-based fintech platform that uses a range of managed portfolios to offer its investors a low-cost digital solution. The platform helps form a connection between investors and asset managers, to better educate and support investors during the decision process.
CEO of OpenInvest, Andrew Varlamos says, “Investors can get to know the different asset managers – who they are, how they’re currently investing, what’s keeping them up at night, how much their portfolios cost – so they feel confident and empowered to choose one to assist them.”
The platform allows the investor to choose a model portfolio from their preferred asset manager or financial adviser and includes services such as an investor portal and app that handles trading, reporting and administration, whilst charging zero ASX brokerage fees. The company recently announced the addition of JP Morgan Asset Management’s multi-asset class, diversified portfolios. The platform also has professionally managed investment portfolios from BlackRock and Schroders among others on offer.
Australia and New Zealand CEO of J.P. Morgan Asset Management, Andrew Creber said “the company is excited to be joining OpenInvest to help meet retail investors’ rapidly growing demand for digital investment solutions. Australians historically tend to put their savings into property and a few well-known stocks but retail investors are increasingly looking for professionally managed and cost-effective ways of accessing diversified investment portfolios. Partnering with OpenInvest to provide enhanced digital capabilities and tailored solutions is one of the many ways that we aim to reshape how we interact with and add value to our clients.”
Founder and Managing Director of the country’s largest provider of SMSF administration software, Ron Lesh of BGL Corporate Solutions says, “our software is used by 7,000+ firms to administer 230,000+ SMSFs. We know the key issues they’re focused on. For a variety of reasons, but particularly due to the sustained low interest rate environment, it’s extremely challenging for self-directed SMSFs to feel confident they have got their investment strategy right. We welcome the OpenInvest initiative, bringing the expertise of world-class asset managers to SMSF trustees”.
The announcement follows the recent launch of its OpenWealth service. This feature of the platform provides financial advisers access to all their client’s investment portfolios. When an investor selects a managed portfolio, the new feature enables ongoing engagement with their portfolio manager – via technology. Instead of turning away clients, using OpenWealth, advisers can “serve an entirely new cohort, distributing and being paid for their intellectual property, in a cost-effective way.”
Varlamos says “We have designed OpenWealth so that firms are not only managing portfolios but providing valuable financial education as well.”
Clearly a step in the right direction.
