tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, July 19th, 7:20PM

News

rss
Latest Headlines

Young developer starts off robo advice site

Next year's revamp of the Financial Advisers Act which will legalise the use of robo-advice in New Zealand's financial sector can't come soon enough for one young Wellington entrepreneur.

Monday, December 12th 2016, 6:00AM

by Owen Poland

Describing himself as web developer and futurist, Andrew Montague is the founder of Investful - a robo-adviser platform which promotes 'sophisticated, personalised portfolio management for everyone'. "We would like to provide a platform that enables Kiwis to get financial freedom, and the first small step we can take is by providing a really nice KiwiSaver platform that's low fees and good returns for investors."

For the moment, Investful is in a conceptual phase which requires market validation - and the all important regulatory green light. However the landing page for recently created website provides an insight into marketing offer of a 'smart, personalised KiwiSaver' with low fees.

Montague graduated from the University of Canterbury with a B.Com in economics and finance, but the 26 year old now works full-time as a web developer after graduating from the Enspiral Dev Academy. His aim is to create a web application along the lines of Trade Me or Xero, and he hopes that his participation in a start-up accelerator early next year will give him the project a  "leg up".

Having studied the robo-advice market for some years, Montague believes that there's a demand from investors who resent paying high fees. While he says there's "nothing wrong" with performance fees, he believes that it's difficult to beat the market in the long term and an automating the portfolio management process will eliminate the need for multiple fund managers.

"You don't pay them performances fees because it's just a robot and you still get that matching of a market and following the market so you can reduce the costs to the consumer."

A new report from the Dublin-based Research and Markets group, entitled 'The Robo Advice: Revolution or Evolution', estimates that automated investment advice is set to become the core of financial planning services with a market potential of US$19.5 trillion assets under management. The report argues that as awareness of automated options increase, and assets under management grow, many consumers and institutions will want to move away from expensive traditional investment advice into low cost automated options.

Montague hopes that scenario will apply to New Zealand, but in the meantime he needs to validate his concept with further market research into the wants and needs of KiwiSaver members. "I need to make sure that I build something that people want and not something that I think people want."

Tags: roboadvice

« CFFC calls for seven changes to KiwiSaverLVR restrictions to be reviewed »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 ▼7.45 ▼7.09 ▼6.95
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - ▼6.85 ▼6.49 ▼6.35
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - ▼6.85 ▼6.49 ▼6.39
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 ▼7.45 ▼7.09 ▼6.99
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼6.59 - -
Co-operative Bank - Owner Occ 8.40 ▼6.79 ▼6.49 ▼6.35
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 ▼7.29 ▼6.99 ▼6.85
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 ▼6.69 ▼6.35 ▼6.15
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 ▼7.75 ▼7.39 ▼7.19
Kiwibank - Offset 8.50 - - -
Kiwibank Special - ▼6.85 ▼6.49 ▼6.39
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 8.74 7.74 7.09 6.95
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 7.14 6.49 6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Lender Flt 1yr 2yr 3yr
Westpac 8.64 7.49 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 6.89 6.75 6.39
Median 8.64 7.14 6.82 6.44

Last updated: 19 July 2024 9:21am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com