Raiz Invest launches fully customisable Plus portfolio
Raiz Invest, Australia’s mobile-first financial services platform, has launched its new portfolio, Plus, adding ASX stocks to its product offering.
Raiz Invest is a micro-investing and fintech platform with operations in Australia and Southeast Asia. With Raiz, users can automatically invest the virtual ‘spare change’ from their daily purchases in diversified portfolios constructed of low-cost ETFs.
In Australia, this can boost savings inside and outside of superannuation, the country’s compulsory pension system.
Now with Raiz Plus, users can build a fully customisable portfolio from a selection of ETFs, single stocks on the ASX, bitcoin and Aussie residential property. Users can get fractional exposure to these asset classes with unlimited trades and a minimum investment of $5.
One of the most significant additions is allowing Raiz users to invest in fractional Aussie stocks, able to add up to 50 stocks on the ASX to their portfolio.
Serving as a successor to the Custom portfolio, the new user interface is more efficient, with intuitive menus that allow users to quickly browse and make edits to their portfolio.
Moreover, the makeup of a Plus portfolio is entirely customisable. Starting with 100% of the portfolio weighted to one of Raiz’s pre-built portfolios, users can then build upon their portfolio to suit their own financial goals, needs and circumstances.
For example, users could allocate 20% of their portfolio to ETFs, 15% to single stocks, 10% to the Raiz Property Fund and 5% to Bitcoin, leaving the remaining 50% to be invested into their pre-built base portfolio.
Brendan Malone, Raiz Invest CEO, says: “Our mission has always been about making investing easy and accessible for everyone. Plus brings to the table a product that matches our customers’ growing investing experience while maintaining our easy-to-use design principles.”
“It’s quite a unique product in that you can construct your own portfolio from a diverse range of assets and actually invest into all of them as often as you like for just one monthly fee.”
“A key design component of Plus was having the user start with one of our familiar pre-built portfolios as a base, making it a comfortable experience to add as little or as much customisation as they like,” says Malone.
Customers invested in a Plus portfolio will be charged a monthly maintenance fee of $5.50 if the account balance is under $25,000. For account balances equal to or above $25,000, a fee of 0.275% p.a. and no maintenance fee will apply.
Plus is available to existing and new Raiz customers on mobile and desktop devices today.
Since launching in 2016, Raiz has achieved solid growth, amassing more than 3.45 million downloads, 3,438,000 sign-ups, and over 685,000 Active monthly Customers with AUD $1.15 billion in FUM as of 30 June 2023.
Raiz continues to enhance its platform, with 20 new products and features to date and more to come. With a realignment in its strategy internationally, Raiz currently maintains offices in Malaysia and Indonesia and is exploring how best to extend its footprint into Thailand and Vietnam.