Macquarie said the service, called OwnersAdvisory, was developed for the more than 80% of adult Australians who do not currently receive advice to guide their finances and investments.
“And the growing number of do-it-yourself investors who want to manage their own investments online and are seeking high quality, flat fee for service advice to help inform their decisions,” the bank said in a statement on Thursday.
Low fee
OwnersAdvisory reviews more than 30,000 investment products around the world to provide recommendations that align with individual investing styles, objectives and risk tolerance.
Clients receive general advice, regular market insights and a portfolio health score for a monthly fee of $A45 (£22.50, $32.20). These investors may also request custom advice to confirm or rebalance a portfolio on demand for $A55 per statement.
The service is able to execute trades and implement the advice with any provider. Clients won’t need to open a new account or move their funds between accounts to participate, and can also update their investor profile as often as they like when their financial situation or requirements change.
Investor engagement
Macquarie Wealth Management Cchief investment officer, John O’Connell, said OwnersAdvisory would provide quality advice, market updates and insights to do-it-yourself and self managed super fund investors.
“We want to encourage unadvised Australians to become more engaged in managing their finances and investments,” he said.
“Technology is offering investors new opportunities to manage their investment strategies online, and they want quality advice and market insights to guide their choices.
“This is an exciting opportunity for consumers. OwnersAdvisory combines technology with Macquarie’s vast market intelligence, insights and advisory expertise to inform and engage investors currently operating without traditional advice.”
OwnersAdvisory offers custom advice across all standard asset classes; cash, fixed income, equities, commodities and alternatives, based on an investor’s personal profile, objectives and risk appetite.
