Following InvestSMART’s announcement last month of a white label online investing platform, it has partnered with Rask Group to launch its first portfolios under the new white label.
Through the InvestSMART platform, Rask Invest will initially offer three investment strategy options, including passive income, growth, and high growth.
Using the platform, financial advisers can utilise InvestSMART’s proprietary technology for compliance, trading and administration, while also being able to create and manage their own ETF portfolios for their clients.
The white label platform also allows investors to have full legal ownership of their underlying assets by operating a Holder Identification Number (HIN)-based structure.
InvestSMART chief executive Ron Hodge said this will allow clients with lower assets to gain access to professional financial services.
“Our aim is to empower advisers, stockbrokers, and financial institutions to create and manage their own ETF portfolios, using InvestSMART’s technology for compliance, trading and administration,” he said.
“With 49 per cent of investors aged between 25 and 49 years old, there is a broad demographic who either can’t afford professional advice or don’t see the value in it, but should have some of their investments professionally managed.”
Noting the evolving landscape of finance management, Hodge said financial services and technology must also evolve to meet the changing demands of clients.
“Wealth management is changing. Firms need to innovate with technology to ensure they capture the trust and imagination of future investing generations,” he said.
“We see our technology stack as robo advice 2.0. A further step in democratising retail investors’ access to professionally managed investment portfolios, without the hefty fees charged by traditional fund managers.”
Rask founder Owen Raszkiewicz added that the portfolios are already proving popular among a variety of demographics.
“While it is early days, we’re really excited by the initial traction, which has reinforced the InvestSMART plus Rask proposition that can be leveraged by all types of investors,” he said.
“Given the transparency, security of assets held on HIN and scalability, so far, it is proving very popular with direct investors via their SMSF, family trusts or even kid’s accounts.”
Rask added it would be working with financial advisers to help them service their clients.
“We’ve also begun to engage with very high-quality financial advisers who are eager to outsource select clients to a trusted investment partner who can automate the client’s investment journey,” he said.
“We’re excited to bring to market a culmination of the best lessons we’ve learned from hundreds of expert guests, fantastic technology, and our own professional investing.”
