Robo-adviser cuts fees to zero
Automated investment adviser and fund manager, Stockspot, said it has eliminated advice fees for investment portfolios under $50,000, so more Australians could access advice.
Automated investment advice, or robo-advice, had grown in popularity in the US and UK, to US$50 billion funds under management.
Stockspot founder and chief executive, Chris Brycki, said: "We eliminated the annual advice fee for all clients investing less than $50,000, with less complex advice needs. Clients need the same quality personalised investment recommendations, but lower fees help them grow their savings faster and encourage more Australians to invest".
"If we can attract more people to invest through lower and fair price structures we're achieving what we set out to do," he said.
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