BT launches new retail share platform
BT has launched a new investment product, BT Go-invest, which allows people to buy into a variety of share market portfolios managed by "reputable" investment managers.
The product is intended to provide investors with "the control and benefits that flow from owning shares and exchange-traded funds, combined with the advantage of holding these assets in a portfolio that is optimised by a team of experts", said BT Go-invest spokesperson, Anthony Potts.
With a minimum investment of $10,000 and fees from 0.5 per cent plus brokerage, BT Go-invest is accessible and affordable for a broad range of investors, Mr Potts said.
The product has been launched after a survey by BT's Australian Financial Health Index found that 45 per cent of those surveyed would like some control – but not full control – of their investments.
The survey also found the proportion of survey participants owning shares had grown from 25 per cent in 2013 to 29 per cent in 2014, BT said in a statement.
"In an environment of low interest rates and increasing property prices, shares are increasingly becoming a popular choice for many investors. At the same time, people are demanding greater control and visibility over their investments, but many people feel they don't have the knowledge or the time to manage a portfolio themselves," Mr Potts said.
"We wanted to make investing simple and easy for our customers. Online access to BT Go-invest is fully optimised for mobile and tablet devices, giving investors uninterrupted access to their portfolio 24/7, with the ability to make changes and track the performance of their investments even if they are on the move."
Class action filed over grandfathered commissions
Major law firm Slater and Gordon has today filed a class action on behalf of 500...
AFSL forced to shut down robo-advice tool
A Sydney-based licensee has voluntarily shut down two digital advice tools follo...
Closing advice gap on ASIC’s radar for 2020
ASIC chair James Shipton says he is “acutely aware” of the growing shortfall...